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 SYDNEY, Australia (AP) - A 10.8 billion Australian dollar ($8.9 billion) takeover offer for Australia's Qantas airline crept closer to success Friday with hours to go before a deadline, but bidders needed a surge in support to get them over the line.
"It is still on a knife edge," said David Coe, a director of the private group seeking to buy out the iconic airline known as the Flying Kangaroo.
The group, Airline Partners Australia, said in a note to the stock exchange it had secured 36.03 percent of Qantas shares by day's end Thursday — a rise in the previous level of acceptances but still well short of the threshold it needs to keep the deal alive.
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