GLAZER WILL MAKE A FORMAL BID THIS WEEK

Last updated : 01 May 2005 By Editor

From their paper today:

It is possible that the 300p per share cash offer will be made on either Thursday or Friday, although it may be made the following week.

NM Rothschild, the investment bank advising Glazer, has apparently changed its tactics and will make the offer to all shareholders - rather than seeking prior backing from JP McManus and John Magnier, the Irish billionaires who hold a 28.9 per cent stake in Man Utd.

The support of the Irish duo is crucial to the success of the Glazer bid. Although a spokesman for McManus and Magnier has repeatedly stated that they remain "long-term investors" in Man Utd, the Glazer camp remain confident that they will capture their stake.