Ryanair Floats $881M Hostile Bid For Rival Aer Lingus

Law360, New York (June 19, 2012, 9:33 PM EDT) -- Ryanair Holdings plc has launched a second takeover attempt of Aer Lingus Group plc with a €694 million ($881 million) offer, the Irish carrier said Tuesday, days after a U.K. watchdog asked the country's Competition Commission to investigate Ryanair’s current stake in its unwilling rival.

Ryanair, which has owned its current 29.8 percent stake of Aer Lingus since 2007, is making its cash-only offer of €1.30 per share of Aer Lingus stock at a premium of more than 46 percent over the average closing price of...
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