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GLAZER GROUP TO DELIST UNITED

Bankers representing Malcolm Glazer's investment vehicle, Red Football Limited, plan to delist Manchester United from the London Stock Exchange on June 22.

Glazer now holds a 76.2 per cent stake, enabling him to end United's 14-year run as a publicly listed company.

He intends to continue repurchasing United shares at the offer price of 300-pence-per-share, which values the club at 790.3 million pounds ($1.47 billion). Minority shareholders have until 1400 GMT on June 13 to accept Glazer's unconditional offer.

The 76-year-old tycoon, who also owns NFL franchise Tampa Bay Buccaneers, said he would ask the senior management team to remain with the club and wanted to ensure United's "significant success" would continue.

"The Glazer family are keen supporters of Manchester United and long-term owners of Manchester United shares," Red Football said.

The takeover by the US billionaire has been fiercely opposed by fans, and members of Shareholders United say they own about 15 per cent of the club.

The offer document, however, makes it clear that if they do not accept, they will be minority shareholders. This means they cannot expect to get dividends and, since the Glazers would be the only possible buyers after June 13, the shares would be almost worthless.

Glazer hopes to secure 90 per cent of the shares he does not yet own, so that the remaining shareholders can be legally compelled to sell.