Saturday, May 5, 2007

UPDATE 1-Australia Takeovers Panel blocks Qantas bid

(Reuters) - The panel rejected an application by the bid group, Airline Partners Australia , to allow last-minute backing from a large U.S. investor that would have given it enough shareholder support to extend the world's largest airline buyout.

"The Panel has decided not to commence proceedings in relation to APA's application," it said in a statement.


Read more at Reuters.com Mergers News

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