qantas-bid-stalls-as-share-acceptances-drop

Qantas bid stalls as share acceptances drop

Hedge funds sit tight on their Qantas shares as the deadline for the new offer from Airline Partners Australia draws near.
With just over two weeks to go until the new offer from Airline Partners Australia to buy Qantas expires, the private equity consortium appears to be having trouble winning over shareholders, with the number of shares committed to the deal actually dropping since last week.

Under the new offer announced on Thursday last week, investors that had committed their shares to the institutional acceptance facility could withdraw them and thatÆs just what they have done.

Seven days ago, Airline Partners held a total 30.06% of Qantas through shares it holds directly and shares committed under the facility. Yesterday, that level had dropped to 28.86% as some investors withdrew from the facility. Airline Partners reports that...
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