Americans tell Aussies what to do!!
A Sky News report says that a US hedge fund with a stake in Qantas has attacked the key investors planning to block the $11 billion takeover bid as it seeks profits from the sale.
Octavian Funds has told the Aussie investors to be realistic about the airline, saying the $5.45 per share bid by Airline Partners Australia is an all-time high for the stock, adding that the industry remains volatile and there are significant risks for Qantas in the future.
Analysts say the the possibly ill advised comments coming from a US owner of Qantas stock, might give some indication of what future comments and stockholders views could like if Qantas effectively becomes US controlled and also hint at the desperation of the stock holders and in particular hedge funds, selling to APA and wishing to make a quick profit at the expense of Australian investors.
Analysts also say that Australian views about being told what to do by the USA are well catalogued and will not have assisted APA’s cause.
The comments come as come as Aussie based Deutsche Bank increases its holding to 8.4% on behalf of hedge funds betting profits from the deal, with DB also an adviser to Qantas.
Meanwhile, APA is now exploring options to reduce the 90% acceptance condition, if investors UBS and Balanced Equity block the deal, but it is not known yet how many private investors will block the deal with only 30% of shareholders having agreed to sell to APA.
Do you think that US investors or hedge funds should tell Aussie investors to sell their Qantas shares to APA?
Please let The Mole have your view by responding to the Mole Poll on this page and if you have more to say, feel free to do so by clicking on the COMMENTS box below.
Report by The Mole
John Alwyn-Jones
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