© Reuters. Why Manchester United (MANU) shares are down today
Manchester United’s (NYSE:) shares fell as much as 8.5% on Monday.
The drop comes amidst rumors surrounding the impending expiration of billionaire Jim Ratcliffe’s tender offer, set to conclude shortly after 11:59 p.m. Eastern Time on Feb. 13.
The uncertainty surrounding whether the tender offer will be extended has led to market uncertainty. Moreover, the football club has remained quiet on the status of regulatory approvals.
In December, Ratcliffe entered into an agreement to acquire a 25% stake in the legendary football club, offering investors the opportunity to exchange up to one-quarter of their MANU Class A shares for $33 in cash.
However, with no guaranteed delivery period, investors likely need to purchase the stock at least two business days before the deadline to partake in the tender…