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From Soccernet:
Bank comes to aid of Shareholders Utd
An investment bank have offered disgruntled Manchester United supporters a new means of combating Malcolm Glazer's takeover approach, according to a report.
United supporters are fearing an imminent formal bid from the American tycoon after he was set a deadline of May 17 to `put up or shut up' by the Takeover Panel.
They are aiming to prevent the tycoon obtaining the 75% of shares he requires to take a controlling interest.
The Sunday Times report that investment bank Nomura will back United fans to the tune of '100million, lending on a '1-for-'1 basis, with supporters trading in their shares for units in a trust held by Shareholders United.
For every '1 of shares or cash committed to the trust, Nomura would lend SU the same amount, says the report, allowing the supporters' group to create a war chest with which they could set about buying up further shares.
'Our interest is in helping supporters protect the club from predators,' said Gary Wilder, head of Nomura's Asset Finance Group.
'However we can only move forward if supporters show they are interested.'
Presently, minor shareholders - of whom many are supporters of the football club - are estimated to own 18% of United.
SU hold approximately 2% of shares, while Glazer has a 28.1% stake and the Irish businessmen John Magnier and JP McManus own 28.9% through their Cubic Expression investment vehicle.
Glazer has yet to win the support of United's plc board, who have to date refused to recommend his proposal to shareholders, stating that 'the assumptions in the Glazer business plan are aggressive'. Providing his banks stay on side, he is ready to offer 300p per share, a price which United's board recognise could have appeal, particularly to those shareholders without an emotional attachment to the club.
SU chairman Nick Towle said: 'It's reckoning time. We want all United supporter-shareholders, small or large, rich or poor, to get behind this trust and keep the club free from predators.'
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