![]() ![]() Ryanair’s own attempts to buy Aer Lingus in full were thwarted. However, if Ryanair chooses to continue its battle in European courts, the process could be delayed further. The approach was made at the start of this week and rejected by the Aer Lingus board on Wednesday.Ī takeover has become more likely as the Irish carrier’s largest single shareholder, Ryanair, is expected to lose an appeal on Friday against a UK competition ruling to sell down its 29.9% stake. A further statement will be made if and when appropriate.” It added: “There can be no certainty that any further proposal or offer will be forthcoming. IAG had earlier issued a statement noting the movement in the share price of Aer Lingus and confirming it had “submitted a proposal to make an offer for the company, which has been rejected by the board of Aer Lingus”. The airline’s share price shot up almost 20% on news of the move, but dropped back after the Aer Lingus rejection. Shareholders are strongly advised to take no action.” Its statement continued: “The board has reviewed the proposal and believes it fundamentally undervalues Aer Lingus and its attractive prospects … there can be no certainty that any offer will be made nor as to the terms of any offer. The Aer Lingus board said it had “received a preliminary, highly conditional and non-binding approach from IAG”. But industry observers had identified it as a possible target for IAG’s continued consolidation of European airlines, particularly with Walsh’s previous experience of the Dublin-based carrier.
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