TPG BA pull US$5.1bn Iberia bid

British Airways and US private equity group, TPG, have confirmed that they’re withdrawing their €3.4bn bid for the Spanish airline. Shares in Iberia fell as British Airways and TPG pulled their €3.4bn bid. Within minutes of stock market trading Iberia’s shares fell 4.1% to around €3 each. The consortium’s original offer was for €3.6 a share. Some analysts reckon that Iberia is unlikely to receive a better offer.