Ansett beats latest Qantas bid for Hazelton
The battle for regional airline carrier Hazelton Airlines wages on as Ansett trumps Qantas's recent $1.50 a share offer with its own $1.60 a share bid. Both Qantas and Ansett have been involved in discussions with the Australian Competition and Consumer Commission (ACCC) after the consumer watchdog expressed its concern that a takeover of Hazelton by either airline would breach the Trade Practices Act giving the winning party too much control over the regional air market. Both Qantas and Ansett have agreed to cooperate with the ACCC to ensure that they do not breach the Trade Practices Act. So far, over 35 per cent of Hazelton has been secured by Ansett after the founding family of Hazelton Airlines accepted Ansett's offer for their shares.
‘Ansett trumps Qantas bid for Hazelton”, ABC News Online, 05/01/01.