Ryanair offer to be published
The Board of Ryanair announced today that the offer document to Aer Lingus shareholders will be published and posted to Aer Lingus shareholders on Monday next, October 23.
At the beginning of the month Ryanair announced a cash offer of €2.80 per Aer Lingus Share, which values Aer Lingus at approximately €1.48bn, higher than the €1.16bn IPO value of just 8 days previously.
Speaking today, Ryanair’s chief executive, Michael O’Leary said: "Ryanair believes that its cash offer represents excellent value for Aer Lingus shareholders and offers significant attractions to Aer Lingus’ stakeholders.
"Ryanair’s strategy will be to expand, enhance and upgrade Aer Lingus’ operations. Without Ryanair, Aer Lingus will continue to be a small regional European airline which, because of its size and regional nature, is unlikely to be of interest or relevance to the three major European airline groupings."
Meanwhile Senior officials from the Department of Transport are due to hold talks with the European Commission in Brussels today on Ryanair's bid to take over Aer Lingus.
The talks are expected to focus on whether the proposed buy-out would be in line with EU competition laws.
| Related Stories: |
|
