Iberia receives takeover approach from ambitious Texas Pacific

Considered to be a merger or acquisition target following approval of the EU-US open skies agreement, Iberia on Friday received a takeover approach from Texas Pacific Group, which values the Spanish flag carrier at about €3.4 billion ($4.53 billion). "Iberia reports that it has received a request from TPG Capital LLP. . .for access to specific corporate, accounting, fiscal and legal information, with a view to the possible formulation of a public offer to buy all shares in the company ...