International Airlines Group (IAG) will make a €1.4 billion ($1.5 billion) formal takeover bid for Aer Lingus, after winning crucial backing from the government of Ireland and the carrier’s board. IAG has been courting Aer Lingus since last December, culminating in a third takeover proposal of €2.55 ($2.78) per share in January. Unlike the two earlier approaches, this received a favorable response from Aer Lingus, but was conditional on IAG securing support from the ...

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