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Goldman Group Drops BAA Bid

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Alternative headline: Goldman's Lawyers Get Weekend Off; Citigroup Lawyers Totally Screwed.

A consortium led by U.S. investment bank Goldman Sachs (GS.N: Quote, Profile, Research) said on Thursday it would not procced with a takeover offer for UK airports operator BAA Plc (BAA.L: Quote, Profile, Research).

Actually, our proposed headline is a lot better than the one on Reuters: "Goldman Sachs will not proceed with Ferrovial bid." How did the whole deal get named the "Ferrovial bid?" Just to be clear, Goldman is competing against the Ferrovial-led group in a bid for BAA. Shouldn't it be "Goldman Sachs will not compete with Ferrovial bid?" Or even better "Goldman Group Drops BAA Bid?"

Goldman Sachs will not proceed with Ferrovial bid