Glazer strikes back with share coup

US sports tycoon Malcolm Glazer is not giving up his fight to gain sole ownership of Manchester United Football Club (MUFC).

Last week, takeover talks broke down between Glazer and MUFC’s main shareholder Cubic Expression – owned by Irish duo John Magnier and JP MacManus. Following this, Glazer subsequently increased his hold in the club on 15 October by acquiring 15.4 million shares.

The acquisition is the equivalent of around 6 per cent of MUFC’s share capital and means that Glazer now owns 66.4 million shares in the club, increasing his hold in the club to 25 per cent.

Glazer is now close to matching Cubic Expression’s 29 per cent share and according to reports, has ordered his investors to acquire a further 2.2 million MUFC shares later this week.