Fred Business News - A Spanish company and a unit of Citigroup Inc. teamed up to submit the largest bid for the right to lease the Pennsylvania Turnpike for the next 75 years.

Barcelona-based Abertis Infraestructuras, Abertis investor Criteria CaixaCorp of Spain and Citi Infrastructure Investors offered $12.8 billion, beating their nearest competitor by $700 million, Gov. Ed Rendell said Monday.

Rendell described himself as "strongly in favor of it." But the Legislature must approve any deal, and one leader in the Democratic-controlled House said he was not ...   more »