Takeover panel issues deadline on BAA

Ferrovial snaps up 150 million shares for 'major' increase in stake

A consortium led by Goldman Sachs has been given a week to decide whether to launch a takeover bid for airport operator BAA after a put-up-or-shut-up ruling by the UK Takeover Panel.

The US bank is heading a consortium that approached BAA with a possible takeover proposal worth 870p per share at the end of March as an alternative to a hostile offer from a group led by Spanish construction company Ferrovial.

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