Company News 

Flybe plummets on £2.8m takeover offer

Flybe plummets on £2.8m takeover offer

Flybe (FLYB) lost almost 93 per cent of its market value after a consortium of bidders made a £2.8m bid for the ailing airline, equivalent to just 1p a share. The offer has been made by Connect Airways – a newly formed joint venture between Stobart Group (STOB), Virgin Atlantic and US-based Cyprus Capital Partners via DLP Holdings. The bid represents a dramatic discount to the 16.4p at which Flybe’s shares had closed trading the day before the offer was announced. In November 2018, the UK airline put itself up for sale in the hope that a buyer could come to the rescue of its financial woes.

To continue reading, subscribe today

and enjoy unlimited access to the following:

  • Tips of the Week
  • Funds coverage
  • Weekly features on big investment themes
  • Trading ideas
  • Comprehensive companies coverage
  • Economic analysis
Subscribe
Subscribe to Investors Chronicle

Related topics

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now