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Newz Forum: SOCCER: John Magnier and JP MCManus increase stake in Manchester United

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posted on Jan, 19 2004 @ 03:49 PM
Horse racing tycoons John Magnier and JP MCManus increased their share in Manchester United plc to over a quarter,sparking rumours of a takeover bid.Manchester United fans have vowed to fight any attempts of a takeover of the clubs plc.

Their company Cubic Expression announced that they have bought another 3,256,944 shares which equates to a holding of 66.5 million.Cubic Expression began to increase their holding and with the pair now owning 25.49% of the club.Malcolm Glazer, owner of NFL gridiron team Tampa Bay Buccaneers, has also bought into the Barclaycard Premiership champions recently and he owns 14.31% of the club.But Shareholders United, a group of several thousand from over 50 countries who also own stakes in the club, are determined to discourage any thoughts of a takeover.SU were formed to resist BSkyB's attempted takeover of United five years ago and they have warned they will stand in the way of any bid.

[Edited on 19/1/04 by TRD]

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