From the Brisbane times.
Shares in Qantas Airways have rallied more than 7 per cent after the Australian Financial Review reported that the carrier appointed a team to defend against a possible hostile takeover attempt.
Qantas has tapped Macquarie Group to defend against a possible bid after it lost a third of its value last week following a profit warning, the AFR said, without naming any sources.
Qantas chief executive Alan Joyce has also appointed Citigroup to monitor the company's share register for any raiders, the paper added.
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The shares rose 7.2 per cent to $1.04, having plunged to an all-time low of 96 cents last week in the wake of a profit downgrade.
Reuters
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Qantas soars on takeover defence talk