The Times:
Red Football, Glazer’s bidding vehicle, is 795,578 shares short of the 97.56 per cent threshold needed to compulsorily buy out minority shareholders. The additional 0.26 per cent, costing him £2.4 million, will not be difficult to secure. Glazer’s advisers have extended the 300p-a-share cash offer to 3pm on June 27 from the initial deadline of yesterday.
Regardless of the new deadline, Glazer is expected to delist the club from the London Stock Exchange next Wednesday as planned. Resistant fans vowed to fight on. "It’s disappointing news because it is another day closer to when Malcolm Glazer can plunge this debt mountain on to the club," Sean Bones, a spokesman for Shareholders United, said. "We will redouble our efforts and do everything we can to hasten his exit from Manchester United because we feel passionately about this club. Shareholders United have never asked supporters not to attend matches but we can hit the Glazer brand where it hurts in terms of not buying products from United’s sponsors." The supporters’ group believes that the takeover, funded by £374 million of bank loans and £275 million of preferred securities, will ruin the club.
The Telegraph:
Manchester United will be taken off the Stock Exchange even if new owner Malcolm Glazer fails to buy up all remaining shares. The American tycoon has set June 22 in his diary for de-listing the company and taking the club under his private control.
Glazer's investment vehicle, Red Football, have increased their United shares to 97.3 per cent of the total, and need just another 0.3 per cent - or just under 800,000 shares - to pass the 97.6 per cent threshhold to begin the compulsory purchase of the remainder.
Glazer has extended his offer of 300p a share for a further fortnight, until June 27, but even if he has not reached the threshold by next Wednesday, it is understood he will press ahead with de-listing.
Once United are taken off the Stock Exchange, Glazer can call an extraordinary general meeting to ask for them to become a private company, and for his personal debts to be transferred on to the club.