Aer Lingus board on Friday strongly advised shareholders to take no action on Ryanair's hostile takeover offer of €2.80 ($3.53) per share, dismissing it as "ill-conceived, contradictory and anticompetitive." In a circular, the board told shareholders that the Ryanair offer "significantly undervalues Aer Lingus [and] ignores Aer Lingus' excellent prospects as an independent company." At its current offer price, Ryanair would be buying EI "at a significant discount," the board concluded. ...

Subscribe to Access this Entire Article

"Aer Lingus says 'anticompetitive' Ryanair offer 'significantly undervalues' EI" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.