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BAA accepts offer from Ferrovial.

AIRLINE INDUSTRY INFORMATION-(C)1997-2006 M2 COMMUNICATIONS LTD

British airport operator BAA Plc said in a statement this morning (6 June) that it has agreed to accept an offer from Spain's Ferrovial.

BAA said that, subject to final documentation, it has agreed to a revised definitive proposal from the Ferrovial Consortium valuing BAA at GBP9.5025 per share. The company board said it believes the offer represents an attractive price for BAA.

Separately, the consortium led by the United States-based investment bank Goldman Sachs Group made an offer of GBP10.3bn for BAA yesterday (5 June), according to Reuters. The Goldman Sachs consortium includes insurer AIG, the investment fund Borealis, Commonwealth Bank of Australia's Colonial First State, investment company Mubadala and Ontario Teachers Pension Fund.

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Publication:Airline Industry Information
Article Type:Brief article
Geographic Code:4EUSP
Date:Jun 6, 2006
Words:137
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