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Ireland's Aer Lingus to back USD1.51b takeover bid from IAG
(MENAFN) Irish airline Aer Lingus backed a USD1.51 billion takeover bid from International Airlines Group, parent of British Airways and Iberia, in a deal aimed at slashing costs, AFP reported.
Aer Lingus confirmed that its board was "willing to recommend" IAG's improved proposal- its third since December- subject to certain conditions.
The Dublin-based airline announced the news a day after revealing that IAG had submitted a sweetened proposal worth USD2.87 per share, comprising USD2.82 in cash and a dividend of USD0.056 per share.
Whether the deal goes ahead now hinges on major shareholders Ryanair and the Irish government.
Aer Lingus confirmed that its board was "willing to recommend" IAG's improved proposal- its third since December- subject to certain conditions.
The Dublin-based airline announced the news a day after revealing that IAG had submitted a sweetened proposal worth USD2.87 per share, comprising USD2.82 in cash and a dividend of USD0.056 per share.
Whether the deal goes ahead now hinges on major shareholders Ryanair and the Irish government.
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