Goldman Sachs backs out of BAA takeover

Following a statement from BAA confirming that talks with Goldman Sachs are over, the investment bank have made it clear that they are no longer interested in bidding for the UK airports’ operator.The BAA statement was as follows:

The Board of BAA plc informs shareholders that talks between BAA and a consortium including Goldman Sachs Infrastructure Group have ceased.

The news appears to leave Spain’s Grupo Ferrovial free to complete its £10bn ($18bn) takeover of BAA, which has been backed by the UK firm’s board.