Manchester United To Explore Strategic Alternatives, Incl. Sale; Stock Up

(RTTNews) - Manchester United plc (MANU) said that its board has commenced a process to explore strategic alternatives for the club. The board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the company.

MANU closed Tuesday's regular trading at $14.94 up $1.91 or 14.66%. In the after-hours trade, the stock further gained $1.66 or 11.11%.

Executive Co-Chairmen and Directors, Avram Glazer and Joel Glazer said, "The strength of Manchester United rests on the passion and loyalty of our global community of 1.1 billion fans and followers."

There can be no assurance that the review being undertaken will result in any transaction involving the company, Manchester United said.

The Raine Group is acting as the company's exclusive financial advisor and Latham & Watkins LLP is legal counsel to the company.