Update :
The board of Aer Lingus has strongly rejected the Ryanair takeover offer made this morning, saying it significantly undervalues the airline. Ryanair's all cash offer of €748M for Aer Lingus is just half of what it offered 2 years ago. Ultimately the move 2 years ago was blocked by EU regulators but the airline business in Europe and globally has changed significantly since then.
Aer Lingus has advised its shareholders to take no further action in relation to this offer, however Ryanair will be publishing full details of their proposal in the coming days and meeting with relevant stakeholders. This story is set to run for some time to come....
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