Key hurdle nearly passed in BSkyB soccer-club bid

Article Abstract:

British Sky Broadcasting may soon remove its first hurdle on its agreement to acquire Manchester United PLC, the richest soccer club in the UK, for 628 million pounds sterling. According to BSkyB's adviser, Goldman Sachs, the company owns an interest of 11.2% of Manchester United and has valid acceptances for around 34% of Manchester United's existing issued share capital. The takeover bid will be reviewed by the Office of Fair Trading and the UK competition authority will decide on the deal on Nov. 2, 1998.

Comment:

Is nearing removal of first hurdle for agreement to acquire Manchester United PLC for 628 mil pounds sterling

Manchester United Football Club PLC, Article

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BSkyB Is Stymied by Regulator In Bid for Manchester United

Article Abstract:

British Sky Broadcasting PLC's $1 billion bid to buy the Manchester United football club was blocked by Britain. The Department of Trade and Industry said BSkyB would have had an unfair advantage negotiating for broadcasting rights to Premier League games. They also said the deal would have created a larger gap between rich and poor teams. BSkyB said it would not appeal the decision. The company also said it will keep its 11% stake in Manchester United.

Mergers, acquisitions and divestments, Abstract, Satellite communications services industry, Sports franchises, Manchester United

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