News

Aer Lingus Board Indicates Willingness to Recommend IAG Offer

Aer Lingus Board Indicates Willingness to Recommend IAG Offer

IAG has indicated that it would only proceed with its third proposal to buy Aer Lingus for €2.55 per share with an indication from the Board of Aer Lingus that it would be willing to recommend the financial terms of the Revised Proposal. Having considered this request, the Board has indicated to IAG that the financial terms are at a level at which it would be willing to recommend, subject to being satisfied with the manner in which IAG proposes to address the interests of relevant parties.

 

A statement said: “The Board notes IAG’s intentions regarding the future of the company, in particular that Aer Lingus would operate as a separate business with its own brand, management and operations, continuing to provide connectivity to Ireland, while benefitting from the scale of being part of the larger IAG group.

“This statement is being made by Aer Lingus with the consent of IAG. There can be no certainty that any offer will be made.”

Yesterday, Monday 26th January 2015, the Board of Directors of Aer Lingus announced that it had received a revised proposal from International Consolidated Airlines Group, SA that values each Aer Lingus share at €2.55 comprising an all cash offer for the company of €2.50 per share and a cash dividend of €0.05 per share (the ‘Revised Proposal’). The Revised Proposal remains conditional on, among other things, confirmatory due diligence, the recommendation of the Board of Aer Lingus and the receipt of irrevocable commitments from Ryanair and the Minister for Finance to accept the offer, all of which may be waived in whole or in part by IAG.

Click to add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

NEIL STEEDMAN has been a trade journalist, copywriter, editor and proofreader for 52 years, and News & Features Editor for ‘Irish Travel Trade News’ for the past 42 years.

More in News

TTM+ 2019 at Ocean Marina Yacht Club in Pattaya, Thailand.

Michael FloodJune 17, 2019

Aer Lingus Celebrates with up to 20% off Flights

Michael FloodJune 17, 2019

Marriott International Officially Opens Aloft Dublin City

Neil SteedmanJune 17, 2019

Hertz Launches My Hertz Weekend Car Rental Subscription Service in Italy

Neil SteedmanJune 16, 2019

Children Go Free with Stena Line to Britain

Neil SteedmanJune 14, 2019

Airbnb Launches New Adventures Product

Neil SteedmanJune 14, 2019

Ryanair to Acquire Malta Air Operator Certificate with Purchase of Malta Air

Neil SteedmanJune 13, 2019

ITTN’s Great Value Travel Deals – 13th June 2019

Neil SteedmanJune 13, 2019

Wendy Wu Appoints Head of Group Sales and Partnerships

Neil SteedmanJune 13, 2019