Virgin Blue is at the center of a hostile takeover bid involving its major shareholder that could see Richard Branson's Virgin Group re-emerge as the controlling influence in the low-fare airline. Transport conglomerate Toll Holdings has launched a A$4.6 billion ($3.5 billion) offer for Patrick Corp, holder of a majority 62.4% stake in Virgin Blue. If Tolls succeeds, Patrick's shareholding will be cut to 27% with Virgin Group agreeing to lift its own holding from 25% to 40.6%. The deal ...

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