the other side of the corporate takeover battle. Qantas made it for another shot at $5.45, it would not have board support.
in the bid or take equity in the bidding consortium.
This will make APA's job significantly harder. Without the with all the usual pitfalls.
The only distinction would be that, given Qantas has already lifted its skirts to this consortium, the bidders know exactly what the airline is worth.
giving current shareholders an enticing handsome capital return? Nothing.
So you can watch this space for this kind of plan if APA launches bid Mark II.
Indeed, if you scratched Dixon hard enough, he would probably private equity. He would probably tell you they were his plans anyway.
months. (Just how many months is not clear - something that lawyers argue about.)
being stuck in there.
they had in their pockets by last weekend, they could manage to get close to 60 per cent at $5.45.
However, a fresh bid brings with it a fresh set of decisions to be made.
If the board can remove its support over a 48-hour period when there has been no financial change, who's to say that plenty of previously accepting shareholders won't change their minds.
the advice of the board and management. There are also some about whether to accept again.
itself from a second bid from APA at the same price. But they Nothing changed over the weekend. If this offer is today clearly too low, then it was also too low last Friday when the board was supporting it.
This bid has been opportunistic for some months. The time for year.
The Qantas chairwoman, Margaret Jackson, now just looks like a person who is unable to value the company she chairs.
made, as it was pitched at such a significant premium to the prevailing share price.
But as events unfolded, it became clear that some large shareholders recognised the value in Qantas ahead of the board.
The Treasurer, Peter Costello, has absolutely no excuse to knock it back.
This is precisely the reason he is so negative about it.
has to be allowed to approve a second identical offer from APA, you until after the election.
than later.
But this time, having less than 100 per cent and return could be difficult.
bid to date, and throwing that away doesn't sit well.
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.
News RSS