Antitrust Regulators Eye Qantas Bid

Law360, New York (December 18, 2006, 12:00 AM EST) -- Australia’s competition authority is scrutinizing an $8.64 billion (A$11.1 billion) takeover bid for Qantas Airways Ltd. submitted by a consortium of private equity investors.

The Australian Competition and Consumer Commission (ACCC), as well as 90% of Qantas’ shareholders, must grant approve in order for the deal to go through. Qantas’ board of directors has already agreed to unanimously recommend that shareholders accept the proposed buyout, which includes a cash offer of A$5.60 per share.

"The ACCC will closely assess the likely effect of the proposed acquisition...
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