A report in The Age says that APA, the consortium that is hoping to take over Qantas Airlines, said Thursday that it holds voting power of 12.45% in the airline.
If APA’s voting power in Qantas increased to more than 50% after April 27, there would be an automatic statutory extension of the offer on May 4 for 14 days, APA director Bob Mansfield said earlier this week.
APA has received acceptances for its offer amounting to 27.8% of shares, an improvement from its last substantial holding notice posted last week, which showed it had acceptances relating to 27.48% of Qantas shares.
APA comprises Macquarie Bank Ltd, Allco Equity Partners Ltd, Allco Finance Group Ltd, Texas Pacific of the US and Onex of Canada, has made an offer worth $11.1 billion for Qantas.
Report by The Mole
