This May, when the board of Australian airline Qantas realized that the leveraged buyout bid for the company from Airline Partners Australia that it had recommended had failed to garner enough shareholder support to take the company private, recriminations were immediate. The chairwoman and one board director announced their early retirements and the regulatory authorities in Australia announced new measures to monitor the incentives for corporate insiders to support take-private bids.
Less headline-grabbing: the company announced that it would be reviewing its capital management policies.
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