AER LINGUS CONFIRM IAG BID
Details have emerged of a third IAG bid for Aer Lingus.
Further information was released in a statement to the Irish Stock Exchange this morning.
The Board of Directors is now considering the proposal, and government ministers are due to discuss it when they gather tomorrow.
Mark Murnane from Cantor Fitzgerald Stockbrokers says it remains to be seen whether the value IAG is putting on Aer Lingus shares will meet shareholders demands.
“The say does really rest with the government and with Ryanair because between the two of them they hold over 50 percent” he said.
“I think 2.55 is certainly getting into the ballpark of where the company is probably fairly valued”.
“It may be a little bit higher – IAG may have to come back and trump this a little bit higher before anyone’s willing to do anything” he added.