Manchester United Shares Decline On Large Share Offering

Shares of Manchester United PLC declined in the extended session Monday after the soccer team announced an offering from a large shareholder. Man United shares decliend 4.4% to $15.70 on light volume. Man United said the Edward S. Glazer Irrevocable Exempt Trust was offering 3 million Class A shares, with an option for an extra 450,000 shares. The company will get none of the proceeds from the sale. Jefferies LLC is the sole underwriter.