PaulZ said:UBS owns 11.40% (+/- 1%) as at 16 April 2007.
UBS & Credit Suisse own almost 22% of the stock... They have publicly stated they won't accept this undervalued offer...
There are also sure to be personal investors, super funds who are not going to accept...
I just don't see how they will get over 70%... even if they do get to 50% by Friday 7pm.
I don't think it is a done deal!
sydbloke said:Some very cool numbers there!
So what happens assuming they reach 50% but however fall short of the 70%. Do they still acquire shares?
Cheers
"Stockmarket Rookie"
Takeshi said:I have never read that UBS has oficially said they will not accept, just rumoured right ?
I didn't know that Credit Suiss also will not accept.
So with Balance equity at 4% this is going to be a photo finish.
But if they don't get 70% they will just change the rules again.
They really want Qantas bad, and have invested tons of cash to get it.
They are not going to give up.
Lindsay Wilson said:I heard this morning that APA released the similar statement to the market as I posted here yesterday, advising they now control 38% as at COB Thursday. Now to achieve 12% of the stock in one day would mean (IMHOI) a monumental shift in thinking from the corporates and hedge funds. Still, we'll see the results after COB today.
May the best team win
AFF Supporters can remove this and all advertisements
The APA bid was structured so that the 'foriegn' partners would have a reduced voting interest in proportion to their ownership to keep apparent 'foriegn' 'control' below the thresholds.Altair said:I would be curious on how much foreign ownership of QAN there currently is. Without APA, which will not take effect until they get 70%, all the hedge fund buying and now Credit Suisse, it surely must be over the 49%. ...
Yes I know that, I do not know if the Qantas Sales Act specified control or ownership.serfty said:The APA bid was structured so that the 'foriegn' partners would have a reduced voting interest in proportion to their ownership to keep apparent 'foriegn' 'control' below the thresholds.
Yes, probably. Thankfully for compliance simplicity, QAN doesn't have to report daily on who its owners are! And by the time it comes to report again, i would imagine things may be below the limit.Altair said:What I am talking about is with the buying by the hedge funds, Credit Suisse etc, not APA, has the foreign ownership provision of 49% been breached?