BAA Takeover

We have just been told that BAA are going to accept the takeover offer from Ferrovial Consortium @ 955.25p a share.

HANG ON A BIT. This and any other offer has to be accepted by the shreholders first. I understand BAA will recomend to us that we accept the offer. But it is definatly not a done deal yet.

cheers wayne:)

Originally posted by mavrick
We have just been told that BAA are going to accept the takeover offer from Ferrovial Consortium which is led by US bank Goldman Sachs @ 955.25p a share.

My understanding is that Ferrovial are a Spanish Building Group and it was the the other interested consortium that was led by US bank Goldman Sachs.

As Jerseyboy mentions this is purely an expression of support for the takeover by BAA.

Phil

[Bazz]

Yeah, think the board have agreed to the Spanish offer, as to whether small shareholder have any say, it depends on what percentage of the shares BAA have control over.

It's over twenty years since I was in this multi million pound market place but there is a threshold (75%?) whereby the rest of the shareholders have to agree - this is to stop small shareholders trying to hold large corporations to ransom and is part of UK company law.

Someone will update I am sure.

You are right Bazz - you may remember all the "hoo ha" over Man Utd being sold to the Glazers - but once 75% of the shareholders agreed - and in United's case this was once Glazer had acquired 75%+ of the shares it was a fait accomplis!!

Originally posted by mavrick
We have just been told that BAA are going to accept the takeover offer from Ferrovial Consortium which is led by US bank Goldman Sachs @ 955.25p a share.

What difference is this likely to make to the everyday traveller?

[Scrooge]

In the short term not a whole heck of a lot,long term who know's,maybe LHR will be redeveloped a little quicker?

Also take a look here for IATA's point of view on it.

Originally posted by catsilversword
What difference is this likely to make to the everyday traveller?

So no bullfighting in the Terminal then. Shame

Phil

Originally posted by FamilyMan

Originally posted by catsilversword
What difference is this likely to make to the everyday traveller?

So no bullfighting in the Terminal then. Shame

Phil

OlŽ!

Dont know if anyone saw the Daily Mail today - but there was an excellent cartoon showing a 747 being directed around the airport by a matador instead of someone with paddles!!

My understandings is the Spanish consort are property developers. So does this mean that T2 when it closes will be rebuilt as 20 high rise hotels and apartment blocks???:D[^][:o)]
Actually I think the Spanish misunderstood when people talk about T.2 being tired and a gaudy design symbol. They thought it was built by Goudy, bet they will be peeved when they realize their mistake and then they will sell to the yanks marketing it as a prime development site in the middle of London. well they fell for the london bridge thing.

Sorry for the humor or lack of it but I just donÕt think that a foreign operator is the best thing that could happen to the management of our national gateways.[:o)]

Originally posted by catsilversword

Originally posted by mavrick
We have just been told that BAA are going to accept the takeover offer from Ferrovial Consortium which is led by US bank Goldman Sachs @ 955.25p a share.

What difference is this likely to make to the everyday traveller?

Air fares will rise to pay Ferrovial and allow them to pay back the money they are lending ...

I believe they also own "Amey" who have the contract to look after the trunk roads in Central/Southern Scotland.

The last I heard from a very realiable source, Amey wasn't in the best of financial health.[:0]

David