Britain's takeover regulator said today US investment bank Goldman Sachs has until June 9th to announce whether it will make a takeover bid for UK airports group BAA.
The Takeover Panel said in a statement that Goldman Sachs must clarify its position by that date.
A consortium led by Spanish construction firm Grupo Ferrovial has made a £9.73 billion sterling ($18.15 billion) bid for BAA, which was rejected by the airports group.
BAA also rejected an informal £9.4 billion takeover approach from a consortium led by Goldman Sachs earlier this year.
Sources familiar with the situation said yesterday it was unclear whether Goldman Sachs was still interested in BAA, although one of the sources said the investment bank probably still "had its eye on the ball".
No comment was immediately available from Goldman Sachs.
Ferrovial has until Monday to make its final offer for BAA, which owns London's Heathrow, Gatwick and Stansted airports. Shareholders have 14 days from that date to accept or reject the bid.
BAA, which opposes a takeover bid, has said the company is worth at least 940 pence a share. Under the May 30th offer, Ferrovial needs 75 per cent of acceptances from shareholders.