Article: Toll allowed to go get Patrick

Discussion in 'Travel News' started by Yada Yada, Mar 13, 2006.

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  1. Yada Yada

    Yada Yada Established Member

    Dec 6, 2004
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    I'll be happy to see control of DJ go back to SRB.
     

  2. JohnK

    JohnK Veteran Member

    Mar 22, 2005
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    And the saga continues....

    Like to see Sir D'ck take control of Virgin again but the road will not be an easy one.
     
  3. Yada Yada

    Yada Yada Established Member

    Dec 6, 2004
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    And here is the latest development in the saga...

     
  4. MetroAir

    MetroAir Guest

    Patrick accepts Toll takeover
    Fri 14 Apr 2006

    Battle over: Toll has raised its bid for Patrick to $6.2 billion.
    Battle over: Toll has raised its bid for Patrick to $6.2 billion.
    Source: ABC
    Source: ABC

    Australia's dominant port operator, Patrick Corp, has accepted a takeover bid from Toll Holdings.

    After a drawn out dispute relating to the takeover, involving the Federal Court and the ACCC, Toll Holdings and Patrick have struck a deal.

    A spokesman for Patrick says Toll Holdings has increased its original offer by $1.6 billion, bringing the final agreed price to $6.2 billion.

    Patrick managing director Chris Corrigan says it is a fair price and he will recommend Patrick shareholders accept it, after a unanimous decision by the board.

    Toll Holdings boss Paul Little says the takeover will create an integrated transport company unique in the Australian and Asian region.

    Patrick has confirmed it will not solicit any higher bids from other companies and both companies have agreed to end all legal proceedings.
     
  5. jakeseven7

    jakeseven7 Active Member

    Sep 9, 2005
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    hmmm maybe branson won't get his grubby paws back on DJ then...
    I actually prefer DJ with less involvement from him, ever since he lost control DJ has smartened its act up a bit, not as obnoxious (advertising - mostly superficial stuff.... tho their product is still not suitable for me)
     
  6. JohnK

    JohnK Veteran Member

    Mar 22, 2005
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    Another interesting twist to this saga!

     
  7. Yada Yada

    Yada Yada Established Member

    Dec 6, 2004
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    Blimey... I wonder where it will end?

    So if MacBank was successful, it would own Virgin Blue. :shock: Discount airport fees for being part of the family? :D
     
  8. NM

    NM
    Moderator

    Aug 27, 2004
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    or just keep jacking them up and tell us all that "Virgin Blue is not complaining, its just Qantas that is making a fuss". Now, can anyone remember AN being bled dry by their owner? Operate DJ at a loss due to very high airport fees and see the profits continue to rise at SAC?
     
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