Going.... Going... Gone.
Qantas Airways, the Australian national airline, has been sold to a private group of investors for a reported $11.1 billion AU dollars. The company is recommending to share holders that they take the now sweetened offer of $5.60 a share to $11.1 billion dollars.
"The directors believe this offer allows Qantas shareholders to realise significant value for their shares that has not been fully recognised in the public market,'' said Qantas chairman Margaret Jackson.
Although the executives have agreed to the deal the share holders, Australian law makers and ultimately the Australian public have the final say. The bid still includes conditions such as 90 per cent minimum acceptance by Qantas shareholders. This is not the only reason that a deal could falter. There are concerns about opposition to a deal that would put the Australian icon into private hands.
Many Australians might not take having their national airline sold to a group of investors that include companies that are not Australian.
» Top 10 Aviation Stories of 2006 from TheAirlineHub
In the spirit of the traditional year end countdown, I have comprised my top ten aviation stories of 2006. Looking back this was a turbulent year in the airline industry. From last minute deals averting strikes to the first... [Read More]
Tracked on: December 27, 2006 12:13 PM | Permalink to Trackback