Live broadcast bar News on October 15 several media reports confirmed that Glazer rejected Jassim’s offer of $7 billion for Manchester United, and finally Jassim decided to withdraw from the bidding.
According to The Daily Telegraph, Jassim was disappointed that Glazer insisted on the valuation of 6 billion pounds, and Qatar’s plan to acquire Manchester United failed. It is understood that Jassim put forward the fifth and should be the last full quotation on June 7, about 5 billion pounds.
Since then, the negotiations have been going on and off. In recent days, Jassim told Glazer that he had lost confidence in the bidding process. Sources close to the Qatar camp believed that, glazer’s price is “impossible and absurd”.
A source close to the negotiation said that Jassim’s final offer was almost twice the current market value of Manchester United (US $3.2 billion), it also raised the investment commitment in infrastructure construction to 1.7 billion US dollars.
However, sources close to the Glazer family pointed out that investment commitments from different acquirers had never been the decisive factor in bidding, while sources close to Qatar’s bidders said: “Jassim has been desperately trying to reach Glazer’s outrageous price for more than nine months. He thinks he could have been the boss he dreamed.”
Nearly 10 months have passed since Manchester United announced the sale. Insiders insist that the negotiations with the acquirers are “going well”, but the Glazer family has never been persuaded by Jassim’s offer plan.
Sources close to the Glazer family believe that Glazer is “seeking suitable transactions” rather than “conducting any transactions”. The transaction methods Glazer wants to discuss are multi-level, the Ratcliffe camp, one of the bidders, seems to be aware of this problem. They are close to acquiring 25% of Manchester United’s shares.
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