Glazier plans tracked by UK Takeover Panel

Speculation that billionaire American businessman Malcolm Glazer is planning a bid to buy Manchester United reached new heights last night after the matter was referred to the UK's Takeover Panel.

Glazer, who last week increased his stake in the club to 16.31%, admitted yesterday that he is considering his options and could increase his shareholding.

However Glazer, who owns former Super Bowl champions the Tampa Bay Buccaneers, insisted he could also sell his stake in the club.

Now United have been placed in an offer period by the British Takeover Panel until Glazer makes his intentions clear.

According to its own website, www.thetakeoverpanel.org.uk: “The Panel on Takeovers and Mergers is the regulatory body which administers the City Code on Takeovers and Mergers.

“Its central objective is to ensure equality of treatment and opportunity for all shareholders in takeover bids.

“The composition and powers of the Panel have evolved over the years as circumstances have changed. Although it remains a non-statutory body, it is now supported by a number of organisations backed by statute.”

Glazer increased his stake in United less than 24 hours after John Magnier and JP McManus did the same thing, fuelling rumours of a takeover war between the two camps.

A statement released to the Stock Exchange yesterday morning read: “The Malcolm I. Glazer Family Partnership notes the press speculation resulting from its increased shareholding in Manchester United Plc.

“The Malcolm I. Glazer Family Partnership is a long-time and enthusiastic supporter of Manchester United.

“The Malcolm I. Glazer Family Partnership has acquired shares in Manchester United because it has great admiration for Manchester United’s rich history, loyal fans, great players, outstanding managers, winning tradition and for investment purposes.

“As with any investment, it is considering its possible options, which may include increasing its shareholding or decreasing its shareholding in Manchester United.

“It could also include a possible offer for or a possible sale of its shareholding in Manchester United.

“Contrary to press speculation, no financial adviser has as yet been appointed in connection with its investment in Manchester United.

“The Malcolm I. Glazer Family Partnership will make a further announcement when appropriate.”