Ryanair’s hostile takeover
of Aer Lingus
BUDGET AIRLINE, Ryanair, revealed details of its plans for a hostile takeover of rival airline Aer Lingus, following the latter’s privatisation. Aer Lingus shareholders were sent a 125-page document outlining the terms with an offer of 2.80 euros per share and were urged to respond by November 13. Ryanair Chief Executive, Michael O’Leary, wrote that if the offer was not accepted, the Aer Lingus share price could fall significantly. The document detailed Ryanair’s accumulation of 100 million shares or 19.2 per cent before the privatisation and Ryanair has since been legally barred from buying any more shares.