Ryanair keeps pushing hostile takeover

RYANAIR is to press ahead with its €1.4 billion hostile takeover of Aer Lingus despite a rejection of its offer.

After a meeting of the Aer Lingus board yesterday, its chairman John Sharman said the offer of €2.80 a share significantly undervalues the airline and he urged shareholders to reject it.

However, Ryanair, which has spent €204 million acquiring a 16% stake in the newly privatised carrier, will continue with its offer to shareholders.