March 22, 2018 / 7:17 AM / 10 months ago

Stobart Group says no longer pursuing regional carrier Flybe

LONDON, March 22 (Reuters) - British infrastructure and support services firm Stobart Group scrapped plans to try to buy Flybe Group, saying the struggling UK-based regional carrier had already rejected a bid and it did not want to make a higher offer.

“The board of Stobart Group has determined that it is not in its shareholders’ best interests to increase its latest proposal for Flybe above the level which was rejected by the board of Flybe,” Stobart said in a statement on Thursday.

“Given this, Stobart Group confirms that it does not intend to make an offer for Flybe.” (Reporting by Sarah Young; editing by Kate Holton)

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