Qantas Airways said Thursday it had accepted an $8.64 billion (Australian dollars $11.1 billion) takeover offer from a private equity consortium including Australia's Macquarie Bank and the Texas Pacific Group.
Qantas Chairman Margaret Jackson said the board had unanimously agreed to recommend to shareholders that they accept the offer of 5.60 Australian dollars ($4.40) a share from the consortium.
The announcement follows Qantas rejection on Wednesday of the consortium's offer of 5.50 Australian dollars a share.
Jackson said in a statement the new offer included the removal of unacceptable conditions, including a break fee payable to the consortium if the deal fell through because of government regulations or a lack of shareholder support.
Qantas Chairman Margaret Jackson said the board had unanimously agreed to recommend to shareholders that they accept the offer of 5.60 Australian dollars ($4.40) a share from the consortium.
The announcement follows Qantas rejection on Wednesday of the consortium's offer of 5.50 Australian dollars a share.
Jackson said in a statement the new offer included the removal of unacceptable conditions, including a break fee payable to the consortium if the deal fell through because of government regulations or a lack of shareholder support.
