What's Going On With Manchester United Stock Wednesday?

Manchester United Ltd MANU shares are trading higher Wednesday. The stock appears to be moving on reports that an official sale announcement could be just weeks away.

What To Know: According to a report from The Sun, a full sale to Sheikh Jassim bin Hamad Al Thani for around £6 billion "could be only weeks away."

The report indicates that the sale process appears to be entering the "final stages" as its current owners, the Glazer family, understand that they face ramifications if they do not go through with a full sale of the club.

Manchester United's board commenced a process to explore strategic alternatives last November. The company's owners have been reviewing offers from multiple potential buyers for more than eight months now.

Reports from last week suggested discussions had taken a "big leap forward in recent weeks" and the company was convinced a deal would be completed soon.

There have been several reports along the way about negotiation developments, but there still has not been an official announcement from the club.

See Also: Why Nike Shares Are Falling

MANU Price Action: Manchester United shares were up 5.5% at $23 at the time of publication, according to Benzinga Pro.

Photo: pottonvets from Pixabay.