The board of Norwegian Air Shuttle (NAS) has rejected two offers for a full takeover by International Airlines Group (IAG) since the group made public its initial small investment. The board concluded the offers “undervalued NAS and its prospects,” Norwegian said in a statement on May 4. It “remains fully committed to delivering on its stated strategy, for the benefit of all NAS shareholders.” IAG CEO Willie Walsh also confirmed that “an initial contact has ...

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