Switches: Flybe Switches

switches: The directors have instead agreed to flog the regional airline's assets almost immediately at the same price to the same bidder, a consortium comprising Virgin Atlantic, Stobart and investment firm Cyrus, according to The Guardian. Is that even legal at a public company It seems it is, or rather it will be on Thursday, which is when Flybe switches its stock market listing from premium to standard status. Shareholders, still reeling from the board's decision last Friday to accept a takeover offer at 1p a share, or just 2.2m, have now learned they won't get a meaningful vote on the deal. The latter does not require shareholders to approve major asset sales. Simon Laffin, chairman for the past five years so in the cockpit for most of Flybe's descent to 1p should have treated his investors more courteously. Flybe dropped its bombshell in a clunky statement that barely bothered to explain what has changed since last Friday to require a revised rescue plan to be forced through in a hurry. (news.financializer.com). As reported in the news.