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Article: Offer for Virgin Blue grounded.(Virgin Blue Airlines)(Brief Article)
- Article from:
- Australasian Business Intelligence
- Article date:
- January 30, 2005
CopyrightCOPYRIGHT 2005 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Jan 30, 2005 (The Daily Telegraph - ABIX via COMTEX)
Virgin Group has rejected a takeover for Australian airline, Virgin Blue. Australian port operator, Patrick Corporation, owns 45.95 per cent of Virgin Blue Holdings. It made an unexpected offer of $A1.90 a share for the remainder of Virgin Blue. However, UK-based Virgin Group feels that the offer is too low. It has increased its holding in Virgin Blue to 25.1 per cent through the acquisition of another 5.1 million shares via a subsidiary. Virgin Blue's share price rose by $A0.28 to close at $A2.08 on 28 January 2005.
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