ESOT members vote against Ryanair bid for Aer Lingus

Employee shareholders at Aer Lingus have rejected Ryanair's takeover bid.

ESOT members this afternoon voted overwhelmingly against the budget airline's offer of €2.89 a share.

In total, Ryanair offered nearly €1.5bn for Aer Lingus, and hailed this as a good price.

However, after a vote of ESOT members was counted, it was found that 97% were against the proposed take-over.