Shares of soccer club Manchester United (NYSE:MANU) rocketed higher premarket following a report in a Qatari newspaper that a takeover bid from Sheikh Jassim is in pole position.
Newspaper Al-Watan reported that Qatar’s Sheikh Jassim bin Hamad al-Thani will soon be announced as the preferred bidder, according to several English language reports.
Manchester United (MANU) +27% shares jumped more than 30% before easing back some.
Sheikh Jassim reportedly submitted an improved bid of 5 billion pounds ($6.25B) for total control of the team, plus 1 billion pounds of investment in the club, last week.
There had been reports that rival bidder Ineos, led by Sir Jim Ratcliff, was preferred because it afforded members of the current owner Glazer family a chance to remain minority shareholders.
But the rumblings across social media have tilted toward success for the Qatari bid. Neither Manchester United nor the Glazers have made a formal statement about a preferred bidder.
More on the Man United takeover
Image and article originally from seekingalpha.com. Read the original article here.