Qantas takeover group lowers acceptance level

The consortium seeking to take over Qantas has lowered the acceptance level needed for approval of its $11 billion bid. Airline Partners Australia (APA) has dropped the minimum acceptance level following a deal with the banks financing the deal, The Australian Financial Review reports today.

The revised minimum level could be as low as 75 per cent - 15 per cent less than the original 90 per cent need to get across the line - after conditions were agreed over the weekend, the paper reports.

APA is expected to make an announcement either late today or tomorrow.