Australia's Qantas Airways has received a buyout offer from investment firms Macquarie Bank and Texas Pacific Group that could be worth more than 10 billion Australian dollars.
"The approach is confidential and incomplete and is being investigated by Qantas," the airline said in a statement, after a newspaper reported that a Macquarie-led buyout possibly worth $10.3 billion was in the works.
A deal, which could rival US Airways Group's $8 billion bid for Delta Air Lines, would mark a change in strategy by private equity groups that had been hunting for cash-rich retail and media assets in Australia.
However, private equity firm Texas Pacific has always chased airlines.
Investment bank Macquarie has chased everything from top Australian ports group Patrick to the London Stock Exchange over the past year.
Qantas shares soared to a record $5.25, and closed up 15 per cent at $5, valuing the group at $9.9 billion.
