The consortium's leaders deny they want to close the gym, suggesting that the gym's protectors won't take yes for an answer.
The consortium has said that although Heathrow would probably have to close, the opportunities for new housing, employment and economic regeneration were huge.
No and no, executives close to the consortium acknowledged.
Executives close to the consortium led by the management team of the Seagram's division said the consortium decided to abandon its plan despite lining up significant financial commitments from investors in Europe.
People close to the consortium said J.C. Flowers had told those at the meeting that the group was prepared to walk away, expecting Sallie Mae to begin talks on a new accord.
This way, says a person close to the consortium, private and public investors would all benefit.In this section Hot under the collar Them and us In health An auld lament Peak-time drama The end of basket-weaving Red-faced Ken Warning signs Reprints Related items Telecoms and TV: The future is NowMar 30th 2006Will the bid succeed?
But after the market closed last night the consortium said it would not make a firm offer.
Some people close to the investor consortium said that the statement infuriated James Dimon, chairman and chief executive of JPMorgan Chase, and Kenneth D. Lewis, Bank of America's chairman and chief executive, because it appeared that Sallie Mae was trying to embarrass the banks into completing the deal, without citing J.C. Flowers, the leader of the buyers.
However, another source close to the deal insisted there were several close bids and that the consortium was successful because it could guarantee a quick purchase.
However, sources close to the talks are far more hopeful of reaching an agreement than they were earlier in the week, when BHS looked close to collapse as the consortium and the administrators struggled to agree terms.
