Sydney, Australia - Qantas Airways has announced that it turned down an $8.6 billion takeover attempt by two North American private-equity firms and Australia's Macquarie Bank Ltd.
U.S. private equity firm Texas Pacific Group, Canadian buy-out group Onex and Macquarie Bank had tried to broker a non-binding proposal to acquire 100 percent of the company.
"The non-executive directors consider that the terms of the proposal are not acceptable," a Qantas statement said. "Qantas will keep shareholders informed of any material developments."
