Is this just providing a good advisory service or a protection racket where you retain them or have a competitor in the bidding process, or both?
Onésimo Alvarez-Moro
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Grupo Ferrovial has headed off a potential rival bid for BAA, the British airport operator, from Macquarie Bank by appointing the Australian investment bank as joint financial advisor to the bid and giving it options to buy its stakes in Sydney and Bristol airports.
BAA last week said the conditional offer valuing it at £8.75bn ($15.2bn) from a consortium led by the Spanish construction and infrastructure group did "not begin to reflect the true value" of BAA's assets.
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