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62.5% back IAG's Aer Lingus bid
31 Jul 2015 07:07
International Airlines Group’s takeover offer for Aer Lingus has been accepted by shareholders holding almost 62.5% of the airline’s shares.
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IAG had initially set yesterday afternoon as the deadline for acceptance, however it has now extended that until 18 August.
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Ryanair yesterday confirmed that it had delayed its acceptance of the bid, though it said it would formally agree to the offer in the middle of next month.
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Ryanair holds almost 30% of Aer Lingus’ shares and its acceptance would bring IAG beyond the 90% acceptance it had initially sought.
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However the British airline group said it was now waiving this condition as part of its bid extension.
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IAG also said its CEO Willie Walsh had accepted the offer for all of his 10,616 Aer Lingus shares.
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