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 SYDNEY, Australia (AP) - A group offering 10.8 billion Australian dollars ($8.9 billion) for Qantas Airways hoped its bid was still alive Saturday after winning over a key stakeholder just hours after a deadline that appeared to have killed the deal.
In a dramatic turnaround, Airline Partners Australia said it had secured the minimum 50 percent stake in the iconic company known as the Flying Kangaroo it needed to get an extension on it's A$5.45-a-share offer.
But the acceptance that potentially saved the bid came in after the Friday evening deadline had passed, and APA must now ask regulators to allow the bid to proceed.
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