The Qantas board announced Sunday that the five-month, A$11.1 billion ($9.11 billion) takeover bid by Airline Partners Australia had failed despite a weekend of frantic appeals by the consortium to Australian regulators. APA was able to secure only 46% of Qantas stock by close of business Friday and needed 50% to keep the bid alive (ATWOnline, May 4). It later secured--by negotiation, according to insiders--another parcel of shares that took its controlling stake to 50.6%. It then appealed ...

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