US$9 billion pitch for Qantas over

SYDNEY – The saga of a private equity group’s A$10,8 billion (US$8,9 billion) pursuit of Qantas shuddered to a messy end yesterday, dragging down the share price and leaving senior management at one of the world’s best-performing airlines tarnished by association.

But the sell-off was not as bad as the carnage some analysts had predicted when trading resumed after a halt on Monday to sort out widespread confusion about the bid’s status. The stock was buoyed in part by the bidder’s comment it may return for another tilt at the airline, analysts said.Qantas shares plunged more than 4 per cent in the first hour of trading since Airline Partners Australia’s buyout offer fell apart on Friday night.But the price settled soon afterward, and closed 2,97 per cent lower at A$5,22 – above pre-bid levels.More than 165 million shares changed hands.Nampa-APThe stock was buoyed in part by the bidder’s comment it may return for another tilt at the airline, analysts said.Qantas shares plunged more than 4 per cent in the first hour of trading since Airline Partners Australia’s buyout offer fell apart on Friday night.But the price settled soon afterward, and closed 2,97 per cent lower at A$5,22 – above pre-bid levels.More than 165 million shares changed hands.Nampa-AP