Qantas

Qantas bid could have succeeded

Miscalculations by hungry hedge funds in a giant game of brinksmanship appear to be the key reason behind the apparent crash of an A$11 billion takeover offer for Australia's Qantas Airways Ltd , analysts said.

Qantas shares remained on hold Monday night after questions were raised if in fact the bid team had reached the required 50 per cent. A condition of accepting the offer was that it was all or nothing. This measn any seller who sold only part of their shares is in fact required to sell all their shares, which will leave the bid with over 60 per cent.

The Qantas air hostess sacked for having sex with actor Ralph Fiennes in an aircraft toilet was back working her second job as a prostitute in Sydney the week after their mile-high tryst, according to the Sun Herald.

The Sun-Herald today reports that Lisa Robertson worked at the Gateway Club at Petersham and Stiletto in Sydney.

Ms Robertson shot to fame after telling how there were "arms, legs everywhere" when she had unprotected sex with Fiennes in an aircraft toilet on a flight from Sydney to Mumbai.

But her sexual experience was well known at the Gateway Club, where she worked under the name Skye and charged $285 an hour for her services.

Qantas says it is worth more than $11 b

Qantas, Australia's biggest airline, rejected a A$10.9 billion ($8.6 billion) buyout offer from Macquarie Bank Ltd. and Texas Pacific Group as ``not acceptable.''

The other bidders included Allco Equity Partners, Allco Finance Group Ltd. and Onex Corp.

The firms offered to pay A$5.50 a share, the Sydney-based carrier said in a statement today, calling the offer non-binding and conditional. The proposal is 26 percent higher than the price Qantas shares traded at before the airline said it was in talks. The stock fell to as low as A$4.93 today.

Qantas about to fly away

Qantas is expected to announce a takeover offer of around A$10.9 billion (US$8.55 billion) from a consortium led by Macquarie Bank Ltd. this week, possibly as early as tomorrow, sources said.

Shareholders have been waiting for the offer since the carrier confirmed nearly two weeks ago that it had received a buyout approach from a consortium that includes Macquarie and private equity firm Texas Pacific Group .

 

Two people close to the transaction said a bid was unlikely to be announced on Tuesday, but was not far away. A source close to Qantas said the ball was in the acquirer's court.

Qantas could be worth $10 billionTreasurer Peter Costello has vowed to never let Qantas fall into foreign hands.

Macquarie Bank and US private equity firm Texas Pacific Group have approached Qantas about a potential $10bn takeover bid which, if successful, could lead to some parts of the airline being sold off.

But Mr Costello said the Federal Government stood by its policy of banning majority foreign ownership of the airline.

"Can I say in relation to Qantas, the Government policy is that the majority ownership of Qantas should be Australian," Mr Costello said in Brisbane.

"That is the Act, that's what the law says, and I don't believe there are any grounds to amend the law to reduce the requirement for Australian ownership."

Mr Costello's promise came after intense pressure from government backbenchers, Labor, unions and the minor parties.

Allco Finance Group Ltd says it has been approached to take part in a consortium proposing a takeover of Qantas Airways Ltd. "In relation to the participation in the consortium, Allco advises that it is currently considering its participation in the indicative proposal," it said. Qantas said on Wednesday it had been approached by consortium led by Macquarie Bank and US private equity firm Texas Pacific Group. Allco also said its aircraft leasing business won't be affected by any takeover of Qantas. "Allco advises that while Qantas is a long standing major and valued client, Allco's aircraft leasing portfolio is broadly diversified across a range of lessees," it said.

Qantas could be worth $10 billionAustralia's national carrier, Qantas, has confirmed it has been approached by Macquarie Bank and the Texas Pacific Group (TPG) amid speculation of a takeover that could be worth more than $A10 billion ($US 7.7 billion).

The approach, made on behalf of an unnamed consortium, was "confidential and incomplete" and was being investigated by Qantas, the airline's acting company secretary, Cassandra Hamlin, said in a statement to the Australian Stock Exchange.

Macquarie Bank Ltd. didn't immediately comment. A spokeswoman for Texas Pacific Group said she had no comment.

Australia's largest airline, Qantas Airways Ltd. said it has undertaken discussions with a range of individuals and companies, including airlines, on possible partnerships, joint ventures and acquisitions over a period of years.

Market analysts said there was speculation Macquarie was preparing an 5.50 Australian dollars-a-share cash offer for Qantas, which would value the airline at almost 11 billion Australian dollars ($8.47 billion).