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N328KF
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Scotsman: General Electric May Buy BAA (LHR, LGW)

Tue Apr 18, 2006 1:12 am

Brief fair use excerpt:
GENERAL Electric (GE), America's seventh-biggest company by revenues, was today linked with a possible takeover bid for Edinburgh airport owner BAA.

The conglomerate emerged as a surprise suitor after BAA, the world's biggest airports operator, rejected its second takeover approach in recent weeks.

Yesterday, the company knocked back a £9.4 billion approach from a consortium led by United States investment banking group Goldman Sachs, insisting that the offer undervalued the company.

That followed a hostile bid for BAA, which also owns Heathrow, Stansted and Glasgow airports, from Spain's Ferrovial last month.

[...]
BAA generates interest from General Electric.
When they call the roll in the Senate, the Senators do not know whether to answer 'Present' or 'Not guilty.' -Theodore Roosevelt
 
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N328KF
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RE: Scotsman: General Electric May Buy BAA (LHR, LGW)

Tue Apr 18, 2006 1:23 am

Since this has hit the wires, there are a bunch more articles about it now. Looks like it's for real:

Forbes
Reuters
Monsters & Critics

FYI, BAA also owns EDI and operates PIT and IND. Don't they also operate MXP?
When they call the roll in the Senate, the Senators do not know whether to answer 'Present' or 'Not guilty.' -Theodore Roosevelt
 
EddieDude
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RE: Scotsman: General Electric May Buy BAA (LHR, LGW)

Tue Apr 18, 2006 7:34 am

According to the article that I read this morning on this subject, it is expected that General Electric will team up with Goldman Sachs, rather than make a bid of its own.

On the other hand, I am sure Ferrovial will not go without fighting and they will add more investors to their consortium so as to be able to make a higher offer. Perhaps Macquarie would join Ferrovial, or at least so has been speculated in some media. It will be interesting to see what happens, because Ferrovial needs to launch its offer quite soon.

I am not sure which other airports belong to or are operated by BAA, but I understand they do have assets in Hungary, so maybe BUD is operated by them.
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GLAGAZ
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RE: Scotsman: General Electric May Buy BAA (LHR, LGW)

Tue Apr 18, 2006 7:36 am

Quoting N328KF (Reply 1):
FYI, BAA also owns EDI and operates PIT and IND. Don't they also operate MXP?

Aswell as LHR,LGW,STN,SOU,GLA,ABZ,BUD,PER....

Gaz
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max999
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RE: Scotsman: General Electric May Buy BAA (LHR, LGW)

Tue Apr 18, 2006 8:26 am

With GE taking over BAA, we can look forward to them increasing the size of the airport shopping malls to make room to sell GE products.

One GE refrigerator takes about as much retail floor space as 20 Louis Vuitton bags.

Who cares if space for passenger amenities (i.e. bathrooms) are decreased! As long as they can fit another shop into LHR...this time, it's a GE shop. Maybe they'll even sell a GE90 engine for duty free.

[Edited 2006-04-18 01:37:59]
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atmx2000
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RE: Scotsman: General Electric May Buy BAA (LHR, LGW)

Tue Apr 18, 2006 9:47 am

Quoting Max999 (Reply 4):
With GE taking over BAA, we can look forward to them increasing the size of the airport shopping malls to make room to sell GE products.

One GE refrigerator takes about as much retail floor space as 20 Louis Vuitton bags.

Who cares if space for passenger amenities (i.e. bathrooms) are decreased! As long as they can fit another shop into LHR...this time, it's a GE shop. Maybe they'll even sell a GE90 engine for duty free.

Hmm, maybe they'll spike the fuel for aircraft with RR and PW engines with something to lower the efficiency to make GE's numbers look better.
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LH121GLA
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RE: Scotsman: General Electric May Buy BAA (LHR, LGW)

Wed Apr 19, 2006 1:09 am

Quoting GLAGAZ (Reply 3):
Aswell as LHR,LGW,STN,SOU,GLA,ABZ,BUD,PER....

I wish they would break up BAA - have MAplc (MAN Airport) make a bid for GLA and turn it into a real success  crossfingers 

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