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Ryanair extends Aer Lingus offer

5 December 2006

Budget airline Ryanair has extended for a second time the deadline for Aer Lingus shareholders to accept its takeover offer after investors with less than 1 percent of the carrier accepted its bid.

The bid, which values Aer Lingus at 1.48 billion euros (1.0 billion pounds), is widely expected to fail given intense opposition from major shareholders, including the Irish government with 25 percent and current and former Aer Lingus staff with 12.6 percent.

source: Reuters

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