The saving is possible through non-payment of dividends and can be used to pay interest on the debt borrowed to finance the deal, reports the UK’s Daily Telegraph newspaper.
Takeover rules require that a person acquiring a company must secure 90 per cent of the shares not acquired at the time of a formal offer. Glazer is not expected to make a formal offer until tomorrow, by which time he is expected to have 80 per cent of the shares, meaning he will need 90 per cent of the remaining 20 per cent (i.e. 97 per cent overall).
Glazer’s total outlay in buying United will come to a massive £812million.
