A group of Manchester United supporters are poised to try and block an attempted takeover of the English soccer champions, according to reports in the Financial Times.
The group, called Shareholders United, will use the club's annual shareholder meeting today to call on others to stop a bid, the newspaper said. Shareholders, which owns about 2 per cent of United's shares and says its members hold another 5 per cent, believes it needs 10 per cent support, the paper reported today.
United's biggest shareholders have gradually built up their stakes, jockeying for prime position as speculation builds of a possible takeover.
The leading shareholders are Irish racehorse owners Mr John Paul McManus and Mr John Magnier, who lifted their shareholding to 23.15 per cent by buying British pay-TV firm BSkyB's 10 per cent stake.
US sports tycoon Malcolm Glazer raised his shareholding to about 10 per cent, the club said on October 20th.
Shareholders United, which organised to block a bid by BSkyB five years ago, said it was putting possible bidders on notice, the Financial Timessaid.