News

Aer Lingus Board Indicates Willingness to Recommend IAG Offer

Aer Lingus Board Indicates Willingness to Recommend IAG Offer

IAG has indicated that it would only proceed with its third proposal to buy Aer Lingus for €2.55 per share with an indication from the Board of Aer Lingus that it would be willing to recommend the financial terms of the Revised Proposal. Having considered this request, the Board has indicated to IAG that the financial terms are at a level at which it would be willing to recommend, subject to being satisfied with the manner in which IAG proposes to address the interests of relevant parties.

Aer Lingus

 

A statement said: “The Board notes IAG’s intentions regarding the future of the company, in particular that Aer Lingus would operate as a separate business with its own brand, management and operations, continuing to provide connectivity to Ireland, while benefitting from the scale of being part of the larger IAG group.

“This statement is being made by Aer Lingus with the consent of IAG. There can be no certainty that any offer will be made.”

Yesterday, Monday 26th January 2015, the Board of Directors of Aer Lingus announced that it had received a revised proposal from International Consolidated Airlines Group, SA that values each Aer Lingus share at €2.55 comprising an all cash offer for the company of €2.50 per share and a cash dividend of €0.05 per share (the ‘Revised Proposal’). The Revised Proposal remains conditional on, among other things, confirmatory due diligence, the recommendation of the Board of Aer Lingus and the receipt of irrevocable commitments from Ryanair and the Minister for Finance to accept the offer, all of which may be waived in whole or in part by IAG.

Click to add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

NEIL STEEDMAN has been a trade journalist, copywriter, editor and proofreader for 52 years, and News & Features Editor for ‘Irish Travel Trade News’ for the past 42 years.

More in News

Fly TAP to Brazil via Lisbon from €767

Michael FloodAugust 20, 2019

Air Canada Announces First Two New Routes to Be Operated with A220-300

Neil SteedmanAugust 20, 2019

ITTN+EMIRATES Photo Competition – Enter Now

Michael FloodAugust 20, 2019

Emirates Holidays Seeks Sales Executive for Ireland

Michael FloodAugust 20, 2019

Silversea Enhances All-Inclusive Polar Package

Neil SteedmanAugust 20, 2019

Avianca Brasil to Leave Star Alliance

Neil SteedmanAugust 20, 2019

Mary Denton Appointed CEO of Sunway Holidays

Michael FloodAugust 19, 2019

KLM Gets Ready to Celebrate 100th Anniversary

Michael FloodAugust 19, 2019

CLIA Launches ‘Cruise Month’ for September

Michael FloodAugust 19, 2019

Copyright © 2019 Belgrave Group Limited, C4 Nutgrove Office Park, Nutgrove Avenue, Rathfarnham, Dublin 14, Ireland