Manchester United jumps as deal nears
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 17 November 2023
⏱️ 6 minutes
🧾️ Download transcript
Summary
Episode transcripts seekingalpha.com/wsb.
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Show Notes
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action news and analysis. |
| 0:11.0 | Good afternoon. Today is Friday, November 17th I'm your host Kim Khan. Our top story so |
| 0:16.4 | far. The final whistle may be at hand in the long-running Manchester United Deal saga. |
| 0:20.8 | Manchester United shares surge following reports that British |
| 0:24.3 | billionaires Sir Jim Ratcliffe is close to acquiring a minority stake for about $33 a |
| 0:29.4 | share. The deal, which is yet to be finalized, could be announced as soon as Monday, although the timing could slip according to Sky News. |
| 0:37.0 | Ratcliffe's Inios Sports is expected to acquire 25% of both the listed A shares and the B shares that hold greater voting rights. |
| 0:45.0 | The latest update comes after reports last month that the Glaser family, which owns the fame soccer club, |
| 0:51.0 | favored Ratcliffe's bid for a minority stake over a rival |
| 0:54.7 | bid from Katari investors. |
| 0:56.9 | The Glazer family owns 69% of the soccer club. |
| 1:00.3 | If the deal goes through, Ratcliffe is expected to provide additional funding for much-needed |
| 1:04.8 | stadium and facilities upgrades and take over decision-making for all sporting matters, including |
| 1:09.9 | player transfers and contracts. |
| 1:12.2 | On Wednesday, Mann United announced that CEO Richard Arnold was stepping down |
| 1:16.4 | and football director John Murtock could be next. |
| 1:20.7 | In today's trading, the markets are fairly quiet to close out the last full week before the holiday season. |
| 1:26.0 | The major averages are mixed, but the S&P 500 looks set to not just third straight winning week. |
| 1:31.0 | It went into today's open up more than 2% for the week. |
| 1:34.3 | The 10-year Treasury yield is back to around 4.45% after slipping below 4.4% earlier |
| 1:40.9 | for the first time since September. |
| 1:44.0 | Before the bell, latest housing figures showed some surprising strength. |
... |
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