Originally Posted by
Barling Magna
Couldn't agree terms. No surprise really, flyBE were overpricing themselves I suspect. Their shares have fallen by a quarter as a result, Stobart's down 3%.
I guess Stobart will look elsewhere for airline growth now.
Flybe share price went up 36% on the news of Stobart interest in the takeover 1 month ago. They went down 21% today when the takeover interest was ruled out. So Flybe shareholders happy.
Stobart shares are down 14% since they declared their interest in a takeover 1 month ago. In fact Stobart shares down 22% in the last 6 months.
It's only a guess but with Stobart net worth down and I expect this led to them not being able to make the bid they wanted to.
They should concentrate now on working out why shareholders are selling up and leaving them and try and create some value in the company. Turning the airport into a profit generating centre will help.