Today's FT reports that TBI have turned the tables on French Group Vinci by recommending to shareholders that they accept the £517M bid the TBI Board had previously described as "wholly inadequate".
The move is seen as a result of the dive in TBI's share price to as low at 65p, although shares finished at 79.25p last night, but still below the offer price of 90p.
Vinci "winning" is not however a foregone conclusion, as a precondition of the Vinci bid is that 90% of TBI shareholders accept the offer.
The "fat lady has not yet sung" but the prospect of the Marshallers at Luton, Belfast Int and Cardiff wearing onions around their necks becomes more likely!
[ 21 September 2001: Message edited by: OLNEY 1 BRAVO ]