A takeover bid for Australia's iconic flag carrier Qantas, potentially worth more than $8 billion, sent the airline's share price soaring to record levels today.Qantas said it had been approached by Australia's biggest investment bank, Macquarie, and US-based private equity firm Texas Pacific Group on behalf of a consortium they represent."The approach is confidential and incomplete and is being investigated by Qantas," the company said in a brief statement to the Australian Stock Exchange.Shares in the airline took off after the announcement. Analysts said numerous hurdles would have to be overcome for the takeover to be successful, including a 49% foreign ownership restriction on Qantas itself and a limit of 25% for any single shareholder.Australia's transport minister Mark Vaile reassured the country the restrictions would stay and Qantas would remain predominantly Australian even if the airline was sold offshore."I think I can confidently predict you will never see the kangaroo moved off the tail of Qantas aircraft," he said referring to the company's well known logo."I think that there will always be a significant level of Australian ownership and obviously given the foreign ownership cap there will always be a majority Australian ownership of Qantas." Macquarie bank later issued a brief statement confirming that "preliminary" discussions had been held with Qantas.
