Qantas Shares Rise Above APA Bid Price.

[YesTAM]

Qantas shares closed at $5.46 (One cent above the APA bid) yesterday according to the ABC and things are apparently looking very rosy for the next eighteen months at least, according to the Board. On top of that, the Board (remember them?) are apparently thinking about giving the shareholders lots and lots of lovely presents soon, arising from a "capital review" and possible sale of some assets........

Remember how they told us to sell our shares and that the price would go down if the APA bid collapsed?

Remember all that "Legacy Airline" crap?

Exactly how long has the Board known that the future of the airline was so rosy????? If they knew this information prior to the close of the APA bid, why didn't they tell us? Isn't there a sharemarket rule about continuous disclosure??? Why did they keep shtum?

I was right. The lying, dirty, low down, rotten, dishonest weasels!:yuk: I'd like to see the lot of them rot in jail.

Just think what Qantas would be worth if it had honest and competent management!

[Buster Hyman]

Technically...the offer was $5.60 initially. :8;)

But no matter how you look at it, this was almost as shady as Ansetts demise.:mad:

Why is it that aviation in this country is the whipping boy of corporate greed?:suspect:

[QFinsider]

ALAN KOHLER, PRESENTER: One of the factors cited as a cause of Margaret Jackson's resignation as chairman of Qantas this week was that hug with CEO Geoff Dixon at the press conference announcing the takeover bid from Airline Partners Australia (APA). A bit over the top.

Looking on was APA spokesman Bob Mansfield, looking a bit like the cat that swallowed the cream.

But it takes two to hug. And there's no calls for the huggee to quit. Or was he the hugger? It was a bit hard to tell.

Now it's true that Geoff Dixon didn't go a step further and slag off the shareholders who weren't accepting the offer, as Margaret Jackson was seen to do. But he was certainly as enthusiastic in his support of the bid as his chairman.

And he had more reasons to be enthusiastic, in fact. Margaret Jackson was passing on the chair, presumably to Bob Mansfield, so she didn't have a personal stake in what happened. But not only was Geoff Dixon central to the consortium's plans, he and the other managers were getting $100 million worth of stock. Group hugs.

There was nothing wrong with the board's recommendation in favour of the APA bid. The bid price was $2 more than the market price, $1 over the independent valuation and what's more, most shareholders showed they thought it was a good price by selling for less to hedge funds.

I think the real question to be answered, by Geoff Dixon rather than Margaret Jackson, is how come the share price was so low for so long and how come he could make the company worth almost double under private equity ownership what it was as a public company?

Geoff Dixon must now do for the shareholders who have not sold what he was going to do for the new ones who were going to load the company with all that debt - so much debt that he was hugging those around with excitement at the idea of it.



It would seem as the cockroaches got caught in the light they now try to pretend the airline is on the way up....

Q: Why given management have the most up to date information was Geoff continually talking the price down?

Q: Why no mention from the representatives of the owners (ie Dixon) about the impact of $4.5billion stripped from the cash reserves post APA buyout?
It was a material amount of cash and given their information advantage, no mention made by incumbent management....Why?

Q: Why if the shareholder register was unstable and the 49% overseas limit may have been broached, why did management not declare a trading halt to ensure the legislation was complied with?

I suspect we know the answers and a bit of upbeat crap from him is not going to convince me.
I hope the regulatory authorities take a good hard look at him...
He was after all the one who bought it to Jackson. :mad:

[Flyingblind]

Dickson really is a robber baron of the old ilk, people like him and others (you know how you are) are why the union movement grew so strong many years ago, as the pendulum swings to its peak so must it swing the other way.

Any decent CEO would have the best long term interests of the shareholders and employees company at heart and provide a steady return on investment. Dickson,Jackson etc will be long remembered for what they are.

I guess my major disappointment is why villains are allowed to carry on in such a way whilst enjoying society's full support.

[lowerlobe]

Question from flyingblind...

"why villains are allowed to carry on in such a way whilst enjoying society's full support"

The answer is simple really.The politicians who you would think would want answers to the questions regarding the debacle are caught between a rock and a hard place.

The want to be seen to be doing something however they also do not want to harm any chances of a job in the corporate world when they leave politics.

In other words they have to look after their mates.

[virgindriver]

Maybe Margie was talking of her own experiences when she said that if you don't accept the APA offer you must have a mental problem with how the share market works. What were her words exactly again??

[domo]

Closed today $5.66,APA could have got the company if they offered this price. tight b*******
just as well