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Aer Lingus rejects new IAG takeover offer

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IAG wants Irish carrier to join BA/Iberia/Vueling roster

Irish carrier Aer Lingus has rejected a new, higher offer from IAG, parent company of British Airways, Iberia and Vueling. The offer, for €2.40 per share, followed an initial offer of€2.30 per share made in December. Aer Lingus said that both of the offers undervalued its business.

What IAG is after primarily is more take-off and landing slots at its home base, London Heathrow, giving it the freedom to operate more flights.

Standing in the way of any acquisition of Aer Lingus is low-cost carrier Ryanair, which owns 29.9% of the company. Ryanair has itself failed in its attempts to fully take it over. Another party that would have to agree to a deal is the Irish government, which owns 25% of Aer Lingus.

BBC

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