Aer Lingus staff may buy shares to block Ryanair bid9 October 2006
The staff shareholding group at Aer Lingus and several third parties are preparing to block Ryanair’s â?¬1.4 billion takeover bid for the airline.
The body which holds the shares on behalf of staff, the Employee Share Ownership Trust (ESOT), has discussed various mechanisms to finance an additional purchase of shares. Putting its existing shares up as security for a loan has been discussed by trustees of the ESOT.
source: Irish Times Article