KEY POINTS:
Australian funds manager Balanced Equity Management won't budge on its rejection of the Macquarie Bank-led A$11.1 billion ($12.4 billion) buyout of Qantas Airways.
"We are committed not to accept the bid," Andrew Sisson, founder of the Melbourne-based firm which owns 4 per cent of Qantas, told ABC television yesterday.
After sharemarket gains and a 36 per cent lift in profit estimates since August, the A$5.45 a share cash offer was in the "ball park" of being a dollar too low, he said.
