https://www.theage.com.au/business/c...26-p556d3.html
The New York-headquartered firm said that after submitting a bidding offer for Virgin on Monday as one of two short-listed bidders, "administrators have not returned calls, emails, or meaningfully engaged with Cyrus to progress its offer".
Cyrus said in a statement that as a result, it withdrew its offer on Friday morning.
"I am disappointed that it has become necessary to withdraw our offer," said Cyrus's founder and chief investment officer, Stephen Freidheim.
"Cyrus firmly believes that the Australian aviation industry has a bright future and would be willing to reinstate our offer if the administrators agree to re-engage in good faith, productive discussions with a view to concluding a transaction that will benefit all key stakeholders – employees, customers, Velocity members and bondholders."