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Article: QANTAS BID SHOWS PRIVATE EQUITY FIRMS BREAKING NEW GROUND.
- Article from:
- AsiaPulse News
- Article date:
- November 24, 2006
CopyrightCOPYRIGHT 2006 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MELBOURNE, Nov 24 Asia Pulse - An audacious attempt by a private equity firm to change the ownership of Australian icon Qantas Airways (ASX:QAN) has taken the leveraged buy out (LBO) acquisition concept into new waters.
Qantas is weighing up what could amount to an $A11 billion ($US8.49 billion) takeover by a consortium led by US global private equity player Texas Pacific Group and home-grown takeover expert Macquarie Bank Ltd (ASX:MBL).
Previously, private equity firms have focussed on companies with stable and consistent earnings, such as retailers or food brand companies that dominate their markets.
But the play for Qantas represents a new ...