EU Grounds Ryanair's €694M Bid For Aer Lingus

Law360, New York (February 27, 2013, 1:29 PM EST) -- European Union antitrust regulators have blocked budget airline Ryanair Holdings PLC's proposed €694 million ($907 million) acquisition of Aer Lingus Group PLC, saying Wednesday that the deal would have reduced competition on dozens of air routes and raised prices for consumers.

The announcement from the European Commission, which conducted an antitrust review of the proposed Aer Lingus purchase, comes a little more than two weeks after Ryanair said the watchdog planned to prohibit the deal.

The EU competition authority said Wednesday in a statement that the...
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