Ryanair withdraws Aer Lingus offer

RYANAIR has formally withdrawn its offer to take over Aer Lingus following the Government’s decision not to accept its bid.

In a brief statement, Ryanair said: “Following the Irish Government’s decision not to accept its all cash offer of €1.40 per share (valuing Aer Lingus at €748m), Ryanair acknowledges that its offer cannot now be successful and accordingly the offer is now withdrawn.”