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Irish government opposes Ryanair bid for Aer Lingus
Irish Minister of Transport Martin Cullen formally came out in opposition to Ryanair's proposed takeover of Aer Lingus Friday, a day after Ryanair launched an unsolicited bid priced at €2.80 per share, valuing the newly privatized flag carrier at €1.48 billion ($1.88 billion) (ATWOnline, Oct. 6).
Shares in EI closed at €2.98 Friday, suggesting the market expects Ryanair to raise its bid or another suitor to emerge.