Jim Ratcliffe has submitted his tender offer for 25 per cent of the Class A shares traded on the New York Stock Exchange as part of his deal to become the minority owner of Manchester United.
It was announced on Christmas Eve that the Ineos chairman had agreed to buy a 25 per cent stake in the Premier League club in a deal that included investing $300million US dollars (€331 million) into their infrastructure.
As well as buying Class B shares held by the Glazer family, the announcement confirmed that Ratcliffe would offer to acquire up to 25 per cent of all Class A shares at a price of 33 US dollars (£26) per share.
Manchester United reaches agreement for Sir Jim Ratcliffe, Chairman of INEOS, to acquire up to a 25% shareholding in the Company.#MUFC — Manchester United (@ManUtd) December 24, 2023 That offer from his company, Trawlers Limited, for up to 13,237,834 Class A ordinary shares was confirmed in a US Securities and Exchange Commission filing on Wednesday.