The Guardian:
‘Malcolm Glazer has won backing from his bankers to bid for Manchester United and is aiming to launch his formal takeover proposals tomorrow.
‘The American's advisers are insistent they will not wait until Wednesday, the deadline imposed by the Takeover Panel for Glazer to "put up or shut up". The response of the United board is already known: the directors will not support a takeover but will say shareholders should decide if they wish to sell at 300p a share. That stance has been judged sufficiently neutral by Glazer's bankers, led by the American investment firm JP Morgan, to allow them to lend to the Tampa Bay Buccaneers owner.’