Dickie Branson didn’t wait long to offer his views about the Toll bid for Patrick. Within three hours of the Toll offer being revealed, his Virgin group issued a statement welcoming it, predicting that Toll’s contribution will be “valuable” and will “create a much broader shareholder base” for Virgin Blue.

“As a minority shareholder we have been somewhat frustrated by the delay in implementing new business initiatives, such as the frequent flyer program and the decision not to hedge Virgin Blue’s exposure to fuel prices. We look forward to meeting these challenges and revitalising this exciting and innovative business.”

Ouch – and up yours Chris Corrigan.