Ferrovial Group's £8.75 billion ($15.62 billion) takeover proposal for BAA plc received a chilly reception from BAA shareholders, with a total of 3.8 million shares representing just 0.3% of issued share capital being tendered as of May 18, the first day of the 810-pence-per-share offer (ATWOnline, April 24). Ferrovial said it is extending the deadline to tender shares by one week to June 19.

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