Sir Jim Ratcliffe is restructuring his Manchester United bid, according to a report
Manchester United’s stock rose 4.4% Wednesday following a report that British billionaire Sir Jim Ratcliffe is reworking his takeover bid for the iconic English soccer club.
Shares of operator Manchester United Ltd. are on track to extend their winning streak to four days, their longest since a five-day streak that ended on June 15. The stock is also on pace for its largest single-day percentage gain since Aug. 23, when it ended the session up 7.3%. Bloomberg reported Tuesday that Ratcliffe, the chief executive of the chemical giant Ineos is restructuring his Manchester United bid in an attempt to break the months-long deadlock in the takeover battle. Ratcliffe is working with his advisers to address concerns about the terms of his bid from minority investors in Manchester United, according to Bloomberg, citing people with knowledge of the matter.
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