Ryanair posts offer to Aer Lingus shareholders
Ryanair has confirmed its takeover offer for Aer Lingus on the Dublin and London stock exchanges this morning.
The offer document relating to Ryanair's all-cash offer of €2.80 per Aer Lingus share is being posted to Aer Lingus shareholders today. The overall bid is worth almost €1.5bn.
Ryanair said yesterday that it will not increase the offer of €2.80 per share for Aer Lingus.
However, the no-free-frills airline said it will offer a tax-efficient way for members of the Aer Lingus employee share ownership trust (ESOT) to take up the Ryanair share offer.
Ryanair has already secured almost 20% of the shares and is hoping to gain a controlling majority stake.
However, the Government and many Aer Lingus workers oppose the takeover. They have a stake of more than 42% between them.
Businessman Denis O'Brien has also bought just over 2% of shares in an effort to block the Ryanair bid.
