UK. BAA released a statement to the London Stock Exchange this afternoon about the potential bid by Spain’s Grupo Ferrovial.
The statement reads:
“The board of BAA plc notes the announcement today by Grupo Ferrovial SA that it is at a preliminary stage of considering whether to make a cash offer for BAA, likely to be as part of a consortium.
“BAA has not received any proposal from Ferrovial and strongly advises shareholders not to take any action at this time.
“The board of BAA is confident about the future of its business. It has a unique portfolio of world-class airport assets, including the three regulated London airports and others in the UK, Italy, Hungary and Australia. The further development of these airports, which is supported by their relevant governments, will create substantial opportunities for the group.
“The board believes that BAA is well placed to continue to generate significant shareholder value from this growing portfolio of assets.”
*BAA’s share price was up +14.27% to 748.50 pence at 3.17pm.
MORE ON BAA/FERROVIAL
City shock in the UK as Spain’s Ferrovial announces it may make offer for BAA – 08/02/06
BAA shareholder welcomes possible takeover approach by Ferrovial; Macquarie ‘no comment’ – 08/02/06
