Board urges rejection of Ryanair bid

The Aer Lingus board has once again called on its shareholders to reject Ryanair’s takeover bid ahead of key EU Competition deadline next Wednesday.

The EU’s Competition Directorate is currently in phase one of its investigation into the offer and on Aug 29 it is due to either approve it or recommend the investigation enter phase two. It cannot reject the offer outright at this stage.

If the investigation goes to phase two, it will take a further 90 working days — stretching the outcome to Feb of next year.