Lawyers and bankers for Vinci are working round the clock to find a way for the French airports and construction group to pull its cash offer for TBI, the UK regional airports operator.

UK mergers and acquisitions lawyers at Allen & Overy have been working alongside Vinci's financial advisers, UBS Warburg, to find a convincing legal argument. Vinci wants to withdraw its 90p (€1.43) per share cash offer for TBI in the wake of the terrorist plane hijackings and attacks in the US.