takeover attempt finally officially failed.
The board was in crisis talks late last night, amid mounting pressure on chairman Margaret Jackson, and possibly other members of the board, to quit.
extraordinary takeover.
Ms Jackson remained in hiding yesterday, despite calls from allowed foreign ownership of the airline to exceed 49 per cent, the limit under law.
billion bid was finally dead.
The Macquarie Bank-led consortium is considering another bid, possibly at the previous $5.
45-a-share offer price.
at Qantas, limited the fallout after a trading halt on the airline's shares was lifted.
When Qantas resumed trading, its share price immediately fell to $5.
24, 14 lower than Friday's close.
More than 164 million shares were traded, with the share price falling as low as $5.13, before finishing at $5.
22.
Shaw Stockbroking's transport analyst, Brent Mitchell, said the overseas hedge funds were dumping their stock.
overseas interests," he said.
"Obviously there is some selling but (foreign ownership) situation. Investors may be propping up the share price thinking APA could be back for round two."
that heavy trading of Qantas shares had made it difficult.
board would be held responsible.
"As far as the Government is concerned, that is a legal "If the Qantas board hasn't done that, then the Qantas board will need to have a good explanation."
Mr Vaile supported the Treasurer's call, saying he had reminded must be held primarily in Australian hands.
by the 7pm deadline on Friday.
the offer was over.
shareholding to be handed over, not just a portion.
certainty that its argument would succeed.
In a statement, Ms Jackson said APA's failed offer could not be matter.
offer of $5.
45 a share.
should come back with a materially increased price," he said.
"I don't think they should come back with a low ball-bid.
"
The unions were happy the takeover bid failed.
Peter Somerville, of the Australian International Pilots Association, said he was confident that this time APA's bid for "I have seen the body, Airline Partners has a stake through the heart. It is dead finally," he said.
He's a bona fide Hollywood star, and Steven Spielberg and Brad Pitt are among his fans, but what Eric Bana treasures most is his life as a suburban dad.
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