|
 SYDNEY, Australia (AP) - A key stakeholder in Qantas Airways said Friday it would not accept a $8.9 billion bid for the airline, throwing into doubt one of Australia's biggest proposed takeovers. Qantas stock sank 3.1 percent on the news.
Airline Partners Australia, the investment group making the bid, immediately announced it was extending the deadline for shareholders to accept their 5.45 Australian dollar-a-share offer by more than two weeks to April 20 and was considering its options.
Balanced Equity Management, an institutional fund which owns about 4 percent of Qantas, said Friday would not accept the bid led by Australia's Macquarie Bank and the Texas Pacific Group at the current price.
|