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BAA deadline nears for Ferrovial BAA deadline nears for Ferrovial
John Rimmer
5-Jun-2006
As the Spanish firm decides whether to make a higher bid for BAA, the Commonwealth Bank of Australia has joined the Goldman Sachs-led consortium bidding to buy the UK airports group
Spanish construction firm Grupo Ferrovial and its partners in the Airport Development and Investment consortium has until tonight to better last week's 900 pence per share bid for UK airports group BAA. Meanwhile, the Commonwealth Bank of Australia has confirmed it has joined the Goldman Sachs consortium bidding for control of the UK airports group. Goldman Sachs and its partners have until June 9 to make a bid for BAA or withdraw from the process for six months.Reports in the UK financial press at the weekend suggested that Goldman was preparing a bid valuing BAA at £10bn ($18.9bn). BAA has insisted it would not accept any bid at less than 940 pence per share.
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