Why Manchester United Stock Scored a Big Win Today
The excitement and fanaticism that often accompanies sports teams rarely translate into stock market success. Few teams ever list on the stock exchange, and when they do, investors tend not to show much interest.
That wasn't quite the story with U.K. soccer team and New York Stock Exchange (NYSE)-listed Stock Manchester United (NYSE: MANU) on Thursday. Shares of Man U's namesake operator rose by nearly 7% on the day on fresh takeover speculation.
Reuters published a report stating that Manchester United is in talks to sell itself for over $6 billion. The news agency, citing unidentified "people familiar with the matter," said that the team's operator's negotiating counterparty is a consortium led by Qatari Sheik Jassim bin Hamad al-Thani, to which it has granted exclusivity in the talks.
Source Fool.com
