Boys and Girls, its pretty obvious a private buyer wants the Qantas brand. They just don't want the people who built it.
The share price is being driven down, i'd be looking for someone to "short" Qantas when the offer is about to be made. There will be redundancies, but that won't help. Someone will take the corpse of the small shareholders hands and "voila!" as if by magic, the company flowers again, but in private hands!
To put it another way, the Regulator is toothless and the markets are rigged.