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| Reuters |
Qatar's Sheikh Jassim bin Hamad al Thani has informed the Glazer family that controls Manchester United Plc (MANU.N) that he will not improve on his bid to acquire the iconic soccer club for more than $6 billion, people familiar with the matter said.
The move leaves the remaining bidder for Manchester United, Ineos chairman Jim Ratcliffe, in a stronger position. He has offered to buy only a 25% stake in the club, allowing some of the Glazers to cash out, and it remains unclear whether he will clinch an agreement.
The exact value that Ratcliffe's bid infers on Manchester United could not be learned, but the sources said it was higher than Jassim's offer of more than $6 billion. Manchester United is currently valued by the stock market at $3.3 billion.
