Dubai International Capital’s £156m takeover bid for Premier League team Liverpool has stalled after the club decided against giving the deal the green light.
Liverpool’s decision appears to have let US entrepreneur George Gillett back into the frame after the businessman issued a last-minute revised offer at the weekend.
A final decision on both bids is expected to be made by the end of the week.
DIC had completed due diligence and wanted to make its formal bid, via the Stock Exchange, for Liverpool chairman and owner David Moores' 51.6% majority shareholding early next week.
Gillett's original offer had been rejected before Christmas, but last week he submitted a new offer which upped the bid to give Moores £88m for his holding.
Gillett owns ice hockey team the Montreal Canadians.