Ryanair Raises Stake in Rival Aer Lingus
The raised stake does not markedly improve the chances that Ryanair's bid, launched Oct. 5 at $3.69 a share, will reach the minimum 50 percent ownership threshold it requires to succeed.
Shares in Aer Lingus lost their initial gains Wednesday and were flat at 2.75 euros ($3.62) on the Irish Stock Exchange. Ryanair rose 21 euro cents (28 U.S. cents), or 2.2 percent, to 9.65 euros ($12.71).
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