Yesterday (23 October) Ireland's Ryanair Holdings Plc published its hostile takeover plans for Aer Lingus.
Ryanair also told Aer Lingus shareholders they would lose money unless they accepted the offer. Ryanair revealed its EUR2.80 per share offer for Aer Lingus Group Plc on 5 October, and yesterday Ryanair distributed a 125-page offer document to Aer Lingus shareholders. The deadline for accepting or declining the offer is 13 November.
Ryanair CEO Michael O'Leary reportedly points out in the document that the airline's aggressive bidding for Aer Lingus shares from 27 September to 5 October increased the value of Aer Lingus shares and that it is likely that the share price will fall if the offer is not accepted.
According to The Associated Press, O'Leary also lists potential benefits from a takeover, including Ryanair's superior "purchasing power".
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