Published: 10:29, June 14, 2023 | Updated: 10:37, June 14, 2023
Speculations over takeover bid: ManU shares hit 2-month high
By Reuters

In this file photo dated July 22, 2020, a logo of Manchester United is pictured on a corner post flag ahead of the English Premier League football match between Manchester United and West Ham United at Old Trafford in Manchester, north west England. (PHOTO / AFP)

Shares of Manchester United jumped 13 percent to hit a two-month high on Tuesday after a report hinted that Qatar's Sheikh Jassim bin Hamad al-Thani was likely to succeed with his takeover bid for the English football club.

Qatar's Al-Watan newspaper reported on Tuesday that Sheikh Jassim, son of a former prime minister of the country, was poised to be announced as the preferred bidder of the Premier League soccer club, CNBC said.

Reuters could not immediately verify the Qatari media report. Manchester United declined a Reuters request for comment.

ALSO READ: Report: Qatari investors preparing imminent bid for Man United

UK's Daily Mail reported last week that Sheikh Jassim had made a "fifth and final" offer of more than 5 billion pounds ($6.28 billion) after British billionaire Jim Ratcliffe's INEOS reportedly outbid him in April.

No deal has been reached yet, days after Sheikh Jassim's "deadline" last week, after which he said he will not enter any further negotiations.

New York-listed shares of Manchester United were trading at $23.07, after rising as much as 30 percent before the opening bell. The stock has risen 53 percent since the club's owners, the American Glazer family, said in November they were considering selling the club.

READ MORE: UK billionaire Ratcliffe says won't pay 'stupid' price for Man United

The Glazer family is reportedly seeking 6 billion pounds, which would be a world record for any sports club or franchise, but neither bid is that high.