Aer Lingus Board Confirms It Is Considering IAG Offer
Published on Jan 26 2015 6:58 PM in General Industry
The board of Aer Lingus has confirmed that International Airline Group (IAG) has made a further offer for the airline and that the board is considering the offer. It's reported earlier this week...
The board of Aer Lingus has confirmed that International Airline Group (IAG) has made a further offer for the airline and that the board is considering the offer.
It's reported earlier this week that IAG has made an offer of €2.55 per share, which values the airline at around €1.36 billion.
The latest news this morning (Friday) on the protracted bid saw shares in Aer Lingus slump as a growing wave of opposition to a €1.4 billion takeover of the airline by IAG gains momentum.
The board previously rejected two earlier offers from IAG of €2.30 per share and €2.40 per share.
Aer Lingus stated that the revised offer was conditional on due diligence being completed, the recommendation of the Board and the receipt of "irrevocable commitments from Ryanair and the minister for finance to accept the offer".
The airline also advised shareholders to take no action at this moment as there is no certainty that a deal will be completed.
Minister for transport Paschal Donohoe has already said that the Government is prepared to consider offers for the airline. He has also said that he appreciates the concern regarding connectivity, jobs and the integrity of the Aer Lingus brand.