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Just days after referral to CC, Ryanair makes all-cash offer for Aer Lingus

 |  June 20, 2012

Aer Lingus has urged its shareholders to take no action on Ryanair’s bid to take over its rival, reports the Financial Times. The latest offer is Ryanair’s third attempt for control in six years, and values Aer Lingus at €1.3 per share, for a 38.3 percent premium.

Ryanair’s move comes only days after its current 29.8 percent stake in Aer Lingus was referred by the U.K. Office of Fair Trading to the Competition Commission for an extended probe.

Nevertheless, Ryanair argues that circumstances have become more favorable for a Ryanair-Aer Lingus merged airline, and that consumers would benefit from increased competition between all airlines in the market for flights to and from Ireland.

Full content: Financial Times


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