Sport 15-10-2004 Fans United Celebrate Takeover Flop who: American tycoon Malcolm Glazer what: Fails in Manchester United takeover bid where: Old Trafford, MANCHESTER when: Yesterday snippet: "Malcolm Glazer`s proposed £800 million takeover of Manchester United was effectively killed off last night," says The Times, "after John Magnier and J.P. McManus, the club`s biggest shareholders, refused to do a deal with him." "JP Morgan, the investment bank working for Glazer, was thought to be making an eleventh hour attempt to rescue the talks, but this appeared to have virtually no chance of success," says The Guardian. "Fans expressed fears that the American would put up ticket prices in order to recoup his investment," says the BBC, "and have now reacted with cautious optimism to the news that the deal could be off." "This development is in no small part down to the fans campaign against Glazer," Oliver Houston, a spokesman for the Shareholders United group, tells Nick Harris of The Independent. "But we`re not resting on our laurels and we`ll be doing everything in our power to prevent a similar [hostile takeover] situation again." [... more]

What The Papers Say is delivered to thousands of readers every morning by web, WAP and email. Sign up today!