ISEQ boosted by Ryanair bid
05/10/2006 - 11:19:20Foundations shook this morning as news hit the ISEQ that low-cost air-line Ryanair has launched a bid to buy Aer Lingus.
The ISEQ jumped by 57.58 points to 8311.84 as Ryanair offered the Government €2.80 for the Aer Lingus shares which were originally on offer at €2.20.
Michael O'Leary's budget air-line Ryanair has recently acquired over 16% of the issued share capital of Aer Lingus and is now set to make an offer of €1.48 bn to buy the former state-owned company outright.
Meanwhile shares on the financial front were buoyed by the energy on the markets this morning.
AIB rose 10c to €20.75, Anglo Irish Bank gained 23c to €13.48, Bank of Ireland rose 13c to €15.53 while Irish Life and Permanent was up 9c to €20.04.
