UPDATE: BAA Accepts Spanish Offer

Grupo Ferrovial upped the ante in its bid to acquire U.K.-based airport operator BAA. The British firm has operations at four U.S. airports.

Though BAA has agreed to accept the £10.3 billion ($19.2 billion) offer, a counter offer could emerge. Specifically, Goldman Sachs has until June 16th to mount its own offer.

BAA manages commercial and retail operations at the Pittsburgh, Pennsylvania airport. It also manages retail and catering operations at Boston’s Logan International Airport’s two main terminals. At Baltimore/Washington International Airport, BAA is also the manager of retail services.