Analysts believe Ryanair bid has merit

AUDACIOUS, stunning and breath-taking were just a few of the words used to describe Ryanair’s €1.4 billion hostile bid to buy a majority stake in Aer Lingus.

A day after Ryanair’s €2.80-a-share offer was launched in a blaze of publicity, the main players in the drama were working through the details of the takeover proposal.

Aer Lingus chief executive, Dermot Mannion has cut off his holiday in the United States to fly back to Dublin to lead the company’s defence. Assembled with the top management team were financial advisers Merrion Capital and Goldman Sachs and law firm Arthur Cox.