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Patrick launches Virgin Blue takeover bid - ABC News (Australian Broadcasting Corporation) patrick corporation virgin blue


Shares in Australia's newest transport conglomerate Patrick Corp rocketed to a new intra-day high of $17 yesterday after the company agreed.

Shares in Virgin Blue Holdings have jumped almost 14 per cent after ports company Patrick Corp Ltd announced a $ billion takeover offer.

Patrick Corporation Ltd was an Australian publicly listed logistics conglomerate. Headed by CEO Chris Corrigan before it was absorbed by Toll Holdings in , Patrick had interests in shipping, rail and aviation, including a 62% shareholding in airline Virgin Blue.

Low cost airline, Virgin Blue, is the subject of a full takeover bid from its major shareholder, Patrick Corporation.

Manoeuvring continues as Patrick Corporation, Virgin Blue's largest shareholder, bids for control of the Australian low-cost airline. Patrick.