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BAA urges shareholder approval of Ferrovial's revised 'attractive' takeover bid
BAA's board accepted Ferrovial Group's increased bid for the airports company early Tuesday and is recommending that shareholders approve the Spanish firm's takeover by a June 26 deadline.
Ferrovial's earlier bids were dismissed by the operator of London Gatwick, Stansted and Heathrow airports as "on the cheap" (ATWOnline, May 29), but a revised, final bid of £10.1 billion ($19 billion), up from an original bid of £8.75 billion, "represents an attractive price," BAA said in a statement.