Airline Partners Australia's A$11 billion ($8.8 billion) bid for Qantas (ATWOnline, Feb. 23) has hit turbulence, with two key stakeholders suggesting that the $A5.60-per-share offer undervalues the airline. According to Australia's Financial Review, UBS Global Asset Management, which holds 6% of QF, is unwilling to sell while Balanced Equity Management, with 3%, is unconvinced. APA has said its offer is conditional on 90% acceptance. Yesterday it extended the bid period to April 3 as ...

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