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BAA stands ground on Ferrovial bidBAA stands ground on Ferrovial bid
10-Apr-2006
The UK airports group has advised its shareholders to reject the Spanish firm's hostile bid for the business
BAA has advised its shareholders to take no action following the Grupo Ferrovial consortium's hostile bid for the business, which it valued at 810 pence per share. The UK airports group stressed that it had "already emphatically rejected" the same offer, considering that it did not reflect the true value of the company.In a statement BAA chairman Marcus Agius said: "We have already made our position on this offer crystal clear."
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(1-May-2006) - UK. Airports group BAA has recommended that shareholders reject Grupo Ferrovial's latest hostile takeover bid, which once again offered a price of 810 pence a share, valuing the company at £8.7bn ($15.3m)
(25-Apr-2006) - BAA has rejected the latest takeover bid from Grupo Ferrovial, but the Spanish consortium may be heading into talks with the UK's Civil Aviation Authority regarding BAA's debt burden
(4-May-2006) - The UK airports group has outlined four main reasons why it believes shareholders should reject the takeover bid led by Grupo Ferrovial
(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
(7-Apr-2006) - The Spanish-led consortium offers 810p a share—the same bid that was rejected last month by BAA