$11.1 billion Qantas grab fails

austeps_join

The proposed $11.1 billion private equity buyout for Qantas has failed.The Airline Partners Australia (APA) consortium confirmed tonight they had only secured 46 per cent of the national carrier after a deadline for the takeover offer expired at 7pm.The consortium needed 50 per cent of the airline for the offer of $5.45 per Qantas share to be extended another two weeks.

黑山老妖

yes. kinda of expected since last week.

oliverzeno

Long Qantas CDS and short Qantas stock to hedged, this trade turns out to be great...Hoho!------------------------------------------------------------------------Nice call..

austeps_join

As the $11.1 billion takeover bid for Australian carrier Qantas hangs in the balance, the Airline Partners Australia (APA) consortium said today that a late acceptance from a large investor meant it intended to press ahead with the bid."On Friday evening, APA announced that, subject to confirmation, it appeared that the offer had failed to reach the 50 per cent level required for the offer to proceed," it said in a statement."However, subsequently on Friday, APA received an acceptance from a large investor, which would be sufficient to take acceptances for Qantas shares to more than 50 per cent."APA intends to make submissions to the Takeovers Panel to allow the offer to continue."APA said the late support took acceptances to a majority of 50.6 per cent of Qantas shares, accepted on behalf of 58 per cent of all Qantas shareholders.The Qantas board of directors will meet today to discuss the revived 11th hour takeover bid.Qantas spokesman Simon Rushton said the board would meet in Sydne

pigtail

这帮人真能折腾啊

吃喝拉撒睡

my assignment was on this. it was due on 12.00 noon friday, 7 hrs before the tender closing~~~~~ jp04qantas will be taken over, i believe, by whatever means.

pigtail

那take over了之后到底是好还是不好啊？ (这个问题很白痴，但是我真的不知道)

clickle

Now it turns out to be fishy, though concession, as nasty as Telstra. Board's transparency meets up with "trust crisis" again, ends up only with elongating the deficiency, as per "predecessor".However, at this stage, I can't see any reason supportive of "been beneficial for ENPLOYEES and CUSTOMERS". It's, as any other privatization or competiton, would be a zero-sum game.

黑山老妖

Interesting twist...
However so far Qantas takeover has been kept out of the political arena. Now this is an election year with election in less than 6 months. Anything can happen. If things gets nasty and political browny points can be scored then Labour party would love any opportunity to sling mud at the coalition. MacBank has much influence here. This is going to take a lot of muscle flexing for it to get the deal across the line.Let political then the deal is off.
Not political then the deal is going to be a tough call from here.
Let's see how it unfolds.

黑山老妖

Looks like the show is over.
Takeover panel decided not to review the bid.
http://www.smh.com.au/news/busin ... /1178390122833.html