Advertisement
UK markets close in 19 minutes
  • FTSE 100

    8,061.93
    +21.55 (+0.27%)
     
  • FTSE 250

    19,584.96
    -134.41 (-0.68%)
     
  • AIM

    752.93
    -1.76 (-0.23%)
     
  • GBP/EUR

    1.1655
    +0.0010 (+0.08%)
     
  • GBP/USD

    1.2485
    +0.0023 (+0.18%)
     
  • Bitcoin GBP

    50,761.66
    -1,403.57 (-2.69%)
     
  • CMC Crypto 200

    1,369.43
    -13.14 (-0.95%)
     
  • S&P 500

    5,007.03
    -64.60 (-1.27%)
     
  • DOW

    37,823.22
    -637.70 (-1.66%)
     
  • CRUDE OIL

    82.09
    -0.72 (-0.87%)
     
  • GOLD FUTURES

    2,343.70
    +5.30 (+0.23%)
     
  • NIKKEI 225

    37,628.48
    -831.60 (-2.16%)
     
  • HANG SENG

    17,284.54
    +83.27 (+0.48%)
     
  • DAX

    17,881.78
    -206.92 (-1.14%)
     
  • CAC 40

    8,007.64
    -84.22 (-1.04%)
     

Aer Lingus strengthens support for IAG takeover

DUBLIN, Feb 13 (Reuters) - The board of Ireland (Other OTC: IRLD - news) 's Aer Lingus (Other OTC: AELGF - news) strengthened its support for British Airways-owner IAG's takeover approach on Friday, saying that following talks with its suitor, the deal made compelling commercial sense.

IAG's 1.36 billion euro takeover approach already had the qualified backing of Aer Lingus's board with a formal recommendation subject to the Irish state selling its 25 percent holding but the government has yet to be convinced.

"The board's view is that a combination of Aer Lingus with IAG has a compelling strategic rationale and will deliver significant benefits for Aer Lingus, its employees, its customers and for Ireland," chairman Colm Barrington said in a statement.

Aer Lingus's statement provided more detail than its original recommendation, explaining that Ireland would become a hub for connections, that the deal would accelerate Aer Lingus's planned transatlantic growth and lead to new employment.

(Reporting by Sarah Young; Editing by Padraic Halpin)