BAA sold
 

BBC reporting BAA will be sold for £10 billion in a secret auction ( ebay?) to a foreign buyer tonight

Link? Can't see it on BBC News website?

Breaking news on BBC news 24

Sounds like misinterpretation, at best, and rubbish at worst. BAA is a public company and can't be sold without the say-so of its shareholders.

There might have been secret discussions to agree a price which the board is prepared to recommend to shareholders, but I can't imagine how anyone could begin to claim that it's a done deal.

This is the only link on beeb website.

http://news.bbc.co.uk/1/hi/business/5047340.stm

BAA's new owners?
 

BBC News reporting that BAA are holding an auction overnight tonight (June 5) to decide who is going to be their new owners - Ferrovial or Goldman Sachs (wonder who's in with them?)....

http://news.bbc.co.uk/1/hi/business/5050626.stm

Going to be interesting to see the offer price - BAA's website has been urging rejection of the Ferrovial offer at 940p a share for a while now.... wish I still had my shares in them!

The Spaniards have it. 950p / share.

This is a bit more up to date from Auntie Beeb

BAA £10bn takeover deal imminent

Looking more and more like a deal to recommend to shareholders is just around the corner
Ex

BAA agrees to Ferrovial takeover
 

Almost there

Subject to shareholder approval

BAA agrees to Ferrovial takeover

Ex

This is a tragedy.

1. Now there will be no chance of a forced break up of the group.
2. Ferrovial will want to get their investment back and will be wanting even more savings.
   
   

Unless ... they have a fabulous plan up their sleeve to:

1. Buy BAA.
2. Break up the group and sell it's parts for more than the original group.

:cool:

The question is, will this generate any more competition or will Ferrovial simply inherit the BAA's license to print money? If it doesn't then it will indeed be a tragedy.

I'm sure I read that's if Ferrovial took over BAA,it was their intention to break up the group,possibly with the small,or Scottish airports going under the hammer.
Probably wrong but do you believe the papers?

Let's hope the Mergers & Monopolies Commision do their job properly and look very seriously into the ownership of the three main London airports by one organisation.

Only two weeks ago the Chairman of BAA was interviewed stating that the initial offer from the Spaniards undervalued BAA significantly. So where did the extra funding come from ? Surely if they've raised the offer, it impacts any future investment potential ?

S'funny, they settled at 950p, after saying that 940p was a "significant undervaluation"....

My guess is that the MMC will be taking a hard look at a foreign owned BAA , as they would if it was in UK hands. May well be that they were expecting this, hence the noises they were making earlier this year.

Its been a done deal for ages. Everyone I know connected with aviation in Spain has been buying BAA shares like theres no tomorrow. The guys in Ops here told me about it in January. Now to sell them.....

Does this also mean that, just like it is in Spain, Iberia will now have priority over all other airlines flying in and around London? :uhoh:

It looks as if they had just not managed to get enough shares in for themselves and their friends but then, somone clinched a big deal and they were able to bend over and take it. :rolleyes:
Lucky there was no insider trading then. :hmm:

No sure it is all over yet.....this is only a recommended deal....Goldman Sachs still have until the 9th June to come up with an offer and have requested shareholders of BAA to take no action on the current offer.

16th June actually.

Don't BAA already run Barajas?