BAA bullish on retail spend; Macquarie joins bid consortium

1-Apr-2006

UK. An upbeat BAA trading statement last week underlined the strength of the group's UK airport retail business as the company defended itself from a takeover bid led by Spanish construction company Grupo Ferrovial

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Ahead of its close period on April 1 and the announcement of its full-year results on May 16, BAA said that its UK airport retail business "continued to perform strongly

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(29-Mar-2006) - The Australian bank's subsidiary Macquarie Airports has the option to acquire Ferrovial's stakes in Sydney and Bristol airports if the BAA bid is successful
(24-May-2006) - The Airport Development and Investment Ltd consortium, headed by Spanish construction firm Grupo Ferrovial, has received permission from the European Commission to proceed with its bid to buy BAA
(1-Mar-2006) - UK. Australian bank Macquarie is the latest name tipped to join forces with Grupo Ferrovial to bid for UK airports group BAA. As DFNI went to press, reports in the UK press suggested that a joint deal could emerge "within days"
(8-Feb-2006) - Construction company Grupo Ferrovial has said it is considering an £8bn bid for the UK airports group
(6-Jun-2006) - The UK airport group is to recommend the Spanish bid to shareholders while leaving the Goldman Sachs consortium the opportunity to place an improved bid by June 16