Patrick bid for Virgin control.(Patrick Corp., Virgin Blue Airlines)(Brief Article)

Australasian Business Intelligence, January, 2005 by Creedy, Steve

Jan 30, 2005 (The Australian - ABIX via COMTEX)

Australian logistics company, Patrick Corporation, wants to gain control of airline, Virgin Blue. Patrick has a 45.4 per cent holding in the airline. It has made an offer of $A1.90 a share. Virgin Blue Holdings has advised shareholders to take no action until it can assess the offer. Analysts feel that the offer is too low to gain full control but could increase Patrick's stake to more than 50 per cent. Analysts feel that the offer is motivated by the fall in Virgin Blue's share price. This rose by $A0.28 on 28 January 2005 as a result of the offer.

Publication Date: 29 January 2005

PATRICK CORPORATION LIMITED - ASX

PRK:

VIRGIN BLUE HOLDINGS LIMITED - ASX

VBA:...

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