Australia's Qantas gets A$10.9 billion takeover bid

MELBOURNE, Dec 13 (Reuters) Australia's Qantas Airways said on Wednesday it has received a A.9 billion (.6 billion) buyout offer led by Macquarie Bank Ltd. and private equity firm Texas Pacific Group at A.50 a share.

It said its non-executive directors consider the offer unacceptable. Qantas last traded at A.23.

The bidding team has been shaped to ensure it meets ownership caps on Australia's flag carrier which require the airline to remain majority Australian owned with no individual owning more than 25 percent.

The consortium also includes Qantas management Canadian investment firm Onex Corp. and Allco Finance Group .

REUTERS DKS PM0444