Australia's Virgin Blue wants fast transition

Discussion in 'Virgin Australia Velocity' started by Yada Yada, May 10, 2006.

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  1. Yada Yada

    Yada Yada Established Member

    Dec 6, 2004
    From some of the following paragraphs it seems that the MacBank offer may have fallen through.

  2. JohnK

    JohnK Veteran Member

    Mar 22, 2005
    BNE, SYD and CNX
    Yes you are right. Apparently the deal fell through. According to a Macquarie Bank announcement on Tuesday a key investment partner withdrew earlier in the week. It would seem that some Patrick executives did not want a Toll takeover and tried to source a higher offer.

    Investors now have until Friday to accept the offer. Toll currently owns just over 10% of Patrick.

    Whether Virgin Blue survives the storm will be revealed in the episode.
  3. Damien

    Damien Member

    Aug 29, 2005
    Toll just issued a press release stating that it has taken control of Patrick Corp. It included the following.

    The release hasn't hit the Toll website yet, but you can see it on the ASX site.
  4. Yada Yada

    Yada Yada Established Member

    Dec 6, 2004
    I was reading my free Fin Review in the QP today and saw that Brett Godfrey was commenting that he looked forward to stable ownership soon so that they can get back on with strategic planning.

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