Irish flag-carrier Aer Lingus (EI) has formally rejected the latest takeover attempt by low-cost carrier Ryanair (FR). Last month, FR, which has a 29.82% shareholding in Dublin-based EI, made its third attempt to buy Ireland’s national airline last month. EI initially told its shareholders to take no action on the bid (ATW Daily News, June 21). However, on Wednesday EI told its shareholders the bid “fundamentally undervalues Aer Lingus and represents a significant discount ...

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