The Irish Takeover Panel said Friday that Ryanair broke stock exchange rules when it offered commitments and promises in an update of its hostile €1.40 ($1.84)-per-share bid for Aer Lingus. Ryanair said it would cede control of EI's London Heathrow slots back to the Irish government and offered two €100 million bank guarantees that it would cut short-haul fares by 5% and quickly eliminate EI's fuel surcharges (ATWOnline, Dec. 5). The Takeover Panel said the initiatives breached ...

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