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Macquarie Airports is unlikely make a bid for Auckland International Airport, broker Merrill Lynch says.
Research analysts Matthew Spence, Baden Moore and Nathan Gee say Macquarie is poised to make large acquisitions and could be targeting listed airports in Switzerland and Mexico but they do not believe Auckland Airport fits the company's earnings growth criteria.
The analysts said Macquarie Airports had A$1.5 billion in cash, which could increase to A$1.75 billion by the end of December. The cash estimate is on top of the A$112 million Macquarie Airports spent this week acquiring another 5 per cent of Brussels Airport from the Belgian Government.
