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Author Topic: Qantas bid hit by investor block  (Read 1254 times)

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Offline casper

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Qantas bid hit by investor block
« on: March 23, 2007, 10:56:41 AM »
A takeover of Australia's Qantas has hit turbulence after a shareholder said it would reject the deal worth 11.1bn Australian dollars ($8.8bn; £4.5bn).
Balanced Equity, which owns a 4% stake in the airline, said it would not back the bid and analysts have warned that more shareholders may now follow suit.

The offer has come from a consortium led by Macquarie Bank and needs more than 90% of shareholders to approve it.

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