Flybe in Talks to Buy BMI

"The UK's biggest regional airline, Flybe, is in talks about acquiring bmibaby and bmi regional, both part of British Midland, where Germany's Lufthansa is taking majority control. Flybe, part of private group Walker Aviation, is carrying out due diligence on the two businesses that account for about 40 per cent of British Midland's turnover and could be worth up to £150 million. Lufthansa recently agreed to add to its existing 30 per cent shareholding in bmi - whose main business is international flights - by acquiring chairman Sir Michael Bishop's 50 per cent stake. The deal valued the company at about £625 million."
Source: The Mail on Sunday