BAA for the third time advised its shareholders to reject a hostile takeover bid from Ferrovial, which again offered £8.75 billion ($15.62 billion) for the UK airport management company. The BAA board said Friday that it will be writing to shareholders "within the next 14 days" to explain the reasons the offer was rejected and urged shareholders to "take no action" in respect to the offer. "The Ferrovial Consortium's offer cannot be taken seriously," BAA Chairman Marcus Agius said. "It ...

Subscribe to Access this Entire Article

"Three strikes for Ferrovial in BAA takeover effort" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.