Back in the day, East Midlands and Bournemouth Airports were put up for sale by their owner - National Express, if I recall correctly - as a package deal. The two had to be purchased together or not at all. Hence, Manchester Airport ended up owning Bournemouth Hurn by default when East Midlands Airport was the true object of their desires. A kind of large-scale 'buy one get one free' deal!
Like most posters here, I sincerely hope that MAG does not pursue the proposed Stansted acquisition. I can just see Ryanair playing games with services ex-MAN/EMA/BOH to pressure MAG for cheap fees at STN where it is more difficult for them to walk away. And as others have pointed out, STN offers little of substance for an investor beyond it's frightening dependence upon the most ruthless low-cost airline in the world. Not great for profit potential, and assured high fixed costs. A money-pit. Money which cannot instead be put to good use at the group's other airports.
The only rationale I can see for MAG buying STN is to beef up the group's profile as a potential takeover target in the future. Certain well-placed executives would likely do very well financially based upon such a scenario, but my guess is that the Greater Manchester public would not. Let's save the investment funds for Manchester Airport, please.
Finally, if MAG needed to raise those additional funds at all, it seems very unwise to have rejected Abu Dhabi's proposed involvement. The Emirate's relationship with the Manchester area is already well-established and proven, and includes substantial investment in the region by E t i h a d which is of great significance to MAN's future prospects.
This whole Stansted takeover saga is shaping up to be the most calamitous single misjudgment to afflict Manchester Airport in years. If we can all see it, why can't the MAG management team? Or maybe their agenda on this issue is at odds with the interests of the Greater Manchester public?