Manchester United's Stock Skyrockets Amidst Takeover Speculation

Shares of Manchester United surged by 30% in premarket trading after Qatari media suggested Sheikh Jassim bin Hamad al-Thani was likely to succeed with his takeover bid. Qatar's Al-Watan newspaper reported that Sheikh Jassim, a son of the country's former prime minister, is poised to be announced as the preferred bidder of the Premier League soccer club. The Glazer family, Manchester United's American owners, announced the formal sale process late last year, saying in a Nov. 22 statement that the company's board of directors would start exploring "strategic alternatives" for the club.