Dubai bid to buy New Zealand’s main airport in jeopardy

A bid by Dubai Aerospace Enterprise for Auckland International Airport Ltd. was in danger of falling apart Friday as the Dubai company claimed the airport operator has breached its obligations under the buyout plan.Auckland Airport said in a statement that the Dubai company considers that it has breached its obligations by not using its best efforts to ensure a successful outcome for the 2.6 billion New Zealand dollar (US$1.8 billion; €1.3 billion) takeover. Auckland Airport said a “good faith” consultation period of five days will now commence under the merger deal with Dubai Aerospace. Auckland Airport’s shares slumped more than 6 percent on the news