Manchester United shares rise amid reports of Saudi buyout bid

Updated : Feb 19, 2023 10:14
|
PTI

Shares of Premier League club Manchester United rose sharply ahead of the deadline for takeover bids and reported interest from Saudi Arabia.

The stock closed at $26.84 on Thursday, up almost 10 percent, on the New York Stock Exchange, with potential buyers expected to submit initial offers before the Friday deadline.

Also read: Europa League: Barcelona hold back Marcus Rashford-inspired Manchester United to 2-2 draw

With a bid also expected to come from Qatar, reports of a move from Saudi Arabia could heighten the possibility of the sale price reaching an estimated $6 billion.

Jim Ratcliffe, one of Britain's richest men and owner of petrochemicals giant INEOS, had also publicly confirmed his intention to buy the Old Trafford club.

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