THE BOARD of Aer Lingus yesterday rejected Ryanair’s €1.30-a-share offer for the company, saying it “undervalues” the airline. “Aer Lingus shareholders are accordingly advised to take no action in relation to the offer,” the company said.
Well, no surprise there.
Ryanair’s bid helped to push up the value of Aer Lingus shares, which rose 15.4 per cent to €1.085 in Dublin yesterday. The shares had closed at 94 cent on Monday, just before Ryanair released details of its offer.
To be expected, really.
Ryanair made no comment yesterday on the bid.
Now that’s news.
Aer Lingus board rejects Ryanair’s new bid for airline (Irish Times)
(Photocall Ireland)
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