Manchester United PLC (NYSE:MANU) shares were priced positively in Monday’s premarket as fresh speculation surfaced over the weekend that the takeover process could be rekindled.
At US$19.03 per share, the football club’s New York-listed stock was up 2.4% ahead of Monday’s open.
It comes as UK media reports speculated that another, higher bid to buy the club could possibly come from Qatari businessman Sheikh Jassim bin Hamad Al Thani.
Earlier this month, detailed media reports claimed that United’s majority owners, the Florida-based Glazer family, had decided to take Manchester United off the market.
Those reports were neither confirmed nor denied – despite the speculation triggering a 20% drop in the club’s stock market value.
Some two weeks later, the vacuum of official comment has evidently led to a new round of speculation.
Manchester United is scheduled to report its fourth-quarter financial results later this week, on Thursday, and most investors will be hoping for a meaningful update on the process from the club's executive team.