James Ducker: "With Sir Jim Ratcliffe’s rival majority offer being seriously considered, there are also said to be some rumblings of discontent among other United current shareholders. The Ineos approach effectively only includes a deal with the family and not the minority investors. As a result, one hedge fund with a large stake in the club is making legal preparations in case Ratcliffe launches an offer that involves only buying the Glazers’ super-voting Class B shares, the Reuters news agency reports."
"Hedge funds were said to be studying past precedents under Cayman Islands law, where Manchester United is incorporated, to figure out how they might build a case against any manoeuvres by the Glazers or Ratcliffe"