IAG rumoured to be discussing revised offer for Aer Lingus
IAG, the Anglo-Spanish listed airlines group, is rumoured to be considering revising its offer for Irish carrier Aer Lingus, the Financial Times reported. The market report said IAG is believed during the past few days to have held meetings where a potential sweetened bid was discussed.
Aer Lingus last week announced its rejection of an offer from IAG which “fundamentally undervalued” the Irish company; although the price was not stated, rumours suggest the offer was pitched at between EUR 2.20 and EUR 2.35 per share, the report said.
Aer Lingus shares were trading at EUR 2.25 on the Irish Stock Exchange late yesterday, 23 December, giving the company a market capitalisation of EUR 1.2bn.
Financial Times