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:: Thomas Penton :: May 3 :: Cleveland


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i'll try to catch some of these next week up here in at the AFI. i'm out for a couple of weeks in Oct. but I'll check in with you and see if you guys are planning to go see one while i'm here.

wutsupwitthekoreanbbq?

when you leaving? lemme know and i'll plan for it beforehand. can't send a vicman abroad without good eats in his belly!

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Bid approach made for Man U

By Siobhan Kennedy

Click to enlarge photo

LONDON (Reuters) - Manchester United, the world's richest soccer club, has received a bid approach, boosting its shares and fanning talk U.S. sports tycoon Malcolm Glazer is planning a bid likely to top 650 million pounds.

"This approach contains a number of significant conditions," the club said in a statement on Monday without identifying its suitor. "The company is seeking clarification of this proposal, and at this stage it is unclear whether any offer will be made."

United has been the subject of persistent takeover talk. Currently fourth in England's premier league, the club is a profitable, debt-free business with one of the best-known sports brands globally and plenty of potential for increased marketing in the U.S. and Asia.

Glazer, who owns the Tampa Bay Buccaneers American football team, already has a stake of 19.2 percent in United, but if he were to mount a bid, he would probably need the support of United's top shareholders, Irish racing tycoons John Magnier and J.P. McManus, who own 28.9 percent.

A source close to the matter told Reuters that Glazer had hired U.S. bank J.P. Morgan Chase & Co to advise him on a possible bid for the club.

Shares in United on Monday jumped 5 percent but trimmed gains to 3.4 percent at 266 pence by noon as investors pondered what the conditions attached to a bid might be.

"It's likely to happen closer to this price than to 3 pounds," said Charles Wilson, an analyst at brokers Bridgewell, adding he didn't expect the Irish investors to make a move.

A source close to the Irish tycoons' bid vehicle, Cubic Expression, reiterated the pair were long-term investors.

"Nothing has changed," the source said.

IRISH DUO

Another source familiar with the matter said Magnier and McManus could be persuaded to sell their holding given that they have little interest in running a football club. Other sources point out that Glazer has not met the Irish investors.

Analysts were sceptical Glazer would be able to raise enough cash to make a bid, unless he were to sell his holding in the Tampa Bay Buccaneers or part of his property portfolio in the U.S.

The takeover approach comes exactly a week after the club warned of a 14 million pound hit to profit this year due to lower TV revenues and less money from European football after it finished third in the premier league in 2003-04.

Analysts said United shares were expensively priced and that last week's warning only emphasised how financial success is so closely linked with continued success on the pitch.

They point out that if Glazer were to raise his stake above 29.9 percent, he would have to made a full offer under UK rules.

In March, Glazer was forced by the UK's Takeover Panel to clarify his intentions towards the club. He said he had no plans at the time to launch a bid but that he might increase or decrease his stake over time, leaving the door open to come back and make an offer for the club at a later stage.

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unacceptable.

This is unacceptable:

DJ Sasha and DJ Three @ Crobar NYC

10/15/2004

Price: $30.00

Pre-Sales End: 6:30:00 PM (EST) - 10/15/2004

DJ Three? :( What happened to Zabs?? Not that DJ Three isn't awesome but I WANT ZABIELA! I don't know if I want to haul my cookies up to NYC for just Sasha *ducks the tomatoes*

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This is unacceptable:

DJ Sasha and DJ Three @ Crobar NYC

10/15/2004

Price: $30.00

Pre-Sales End: 6:30:00 PM (EST) - 10/15/2004

DJ Three? :( What happened to Zabs?? Not that DJ Three isn't awesome but I WANT ZABIELA! I don't know if I want to haul my cookies up to NYC for just Sasha *ducks the tomatoes*

no shit. that is unacceptable. i gotta get to the bottom of this!

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