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12/13/2006 02:56 AM ID: 58951 Permalink   

Qantas Calls $8.6 Billion Takeover Bid Unacceptable


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."

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I have a friend who works in Qantas, so does his Dad - there jobs are safe but still it angers me that for 11.5Billion they sold out...
  by: mr-anderson   12/17/2006 03:02 AM     
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