The Glazer family will make around $150 million by selling part of its stake in Manchester United although the deal will leave the Americans firmly in control of the English soccer club. The Glazers, who bought United for 790 million pounds ($1.34 billion) in 2005, are selling 8 million of their shares in the club which amounts to a stake of about five percent.Once the shares are sold, the six children of the late Malcolm Glazer will still own more than 80 percent of the club's total shareholding.None of the proceeds will go to the club itself, a fact that is likely to annoy some fans who have long campaigned against owners they accuse of burdening United with excess levels of debt following their takeover.The sale of the shares would create a more liquid market for United stock after a flotation on the New York Stock Exchange two years ago.
Childrens Place Inc.(Children's Place), formerly The Children's Place Retail Stores, Inc. Shares of PLCE traded higher by 2.5% or $1.24/share to $50.91. In the past year, the shares have traded as low as $44.54 and as high as $58.89. On average, 450114 shares of PLCE exchange hands on a given day and today's volume is recorded at 258601.
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