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SYDNEY - The number of Qantas shareholders prepared to accept a A$5.60 ($6.45) takeover offer from a private equity consortium has nudged up again, with more than a fifth now on board.
The Macquarie Bank led Airline Partners Australia bid now has 20.9 per cent shareholder acceptance.
That is up from figures released yesterday of 19.34 per cent.
Shareholders have a little over two weeks to accept the A$11.1 billion offer which closes on April 5.
Analysts have previously said the 35 per cent mark would be an important psychological barrier and, if passed, the current trickle of acceptances could turn into a flood.
The APA bid requires 90 per cent approval to succeed.
But major institutional shareholders remain a stumbling block.
UBS Global Asset Management, Balanced Equity Management and Maple Brown Abbott own 13 per cent of the company amongst them and are believed to be holding out for a higher offer.
- AAP
