I agree, the extent to which it can unravel is enormous. This is...

I agree, the extent to which it can unravel is enormous. This is going to be, and must be a huge issue over the next little while.

It was botched from the start with a low ball early final bid declared, the interest of directors in the new entity complicating their independent advice, Ms Jacksons undisciplined remarks, and reliance on hedge funds to move things along. I imagined these sophisticated financial players and investment banks would have nailed it, but it seems not. They made a mess of it. Whatever happens from here, the stench will linger for many.

The well publicised photo of APA and Qantas directors in an celebratory hug, taken a few months ago, has moved beyond embrassing....

and of course, the deadline was simply not met!