BAA, UK airports operator confirmed its approval over £10.3 takeover bid from a consortium. Spain’s Grupo Ferrocvial leads the consortium.
Ferrovial offered to pay 950.25 pence per share. The deal included a proposed final dividend of 15.25 pence per share. The board saw this offer as an attractive price for BAA.
A consortium led by US investment bank Goldman Sachs, now conformed the report that it had offered 955.25 pence per share.
BAA is the owner of London’s Heathrow airport and was up about 2.3% at 949 pence in early trade after hitting an all-time high of 953 pence. It rejected Ferrevial’s hostile offer of 900 pence per share last week.
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