Airport operator reiterates its warning to shareholders to reject an £8.75bn takeover approach by Spanish contractor, after its takeover offer was officially posted last night.
UK airports operator BAA has repeated its warning to shareholders to reject an £8.75bn takeover approach by Ferrovial, after the Spanish company officially posted its takeover offer document last night.
Ferrovial last night sent out an offer document to shareholders, setting in motion a 60-day timetable for the bid process. BAA has 14 days to respond officially to the bid.
BAA chairman Marcus Agius said: "The Ferrovial Consortium's offer cannot be taken seriously. It is no more than a tactical manoeuvre and our shareholders should have nothing to do with it."