Qantas bid failed
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APA failed to reach the crucial50% level of shareholding before the 7pm deadline last Fri, and even though one investor accepted the bid about five hours later and APA attempted to have the late acceptance counted, the Takeover Panel declined to consider the matter.
Qantas issued a statement last night saying that while it understands APA is still making applications with respect to the bid, directors believe the takeover has failed and the carrier “will proceed with strategies and plans for its future”.
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