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18/07/2012
Aer Lingus Want Shareholders To Reject Ryanair Takeover Bid
Aer Lingus has called on its shareholders to reject the Ryanair takeover offer.
Ryanair submitted a formal takeover for Aer Lingus yesterday with an offer of €694m.
However, Aer Lingus has said it believes Ryanair’s offer "fundamentally undervalues Aer Lingus and represents a significant discount to the intrinsic value of the business".
Ryanair currently owns 29.8% of Aer Lingus, which was acquired between 2006 and 2007.
Ryanair hope to seek acceptance of the bid by 13 September.
Taoiseach Enda Kenny has said that Transport Minister Leo Varadkar is considering Ryanair's takeover bid of Aer Lingus.
(H)
Ryanair submitted a formal takeover for Aer Lingus yesterday with an offer of €694m.
However, Aer Lingus has said it believes Ryanair’s offer "fundamentally undervalues Aer Lingus and represents a significant discount to the intrinsic value of the business".
Ryanair currently owns 29.8% of Aer Lingus, which was acquired between 2006 and 2007.
Ryanair hope to seek acceptance of the bid by 13 September.
Taoiseach Enda Kenny has said that Transport Minister Leo Varadkar is considering Ryanair's takeover bid of Aer Lingus.
(H)
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