Ferrovial beats deadline with £9bn bid for BAA

A consortium led by Spanish conglomerate Ferrovial has tabled a firm bid worth £8.8bn (€12.6bn) for BAA, despite having an informal offer of the same amount rejected by the UK airport group three weeks ago. BAA immediately rejected the bid again.

Marcus Agius, BAA's chairman, said: "We have already made our position on this offer crystal clear."

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