EC ‘likely to approve Aer Lingus bid’

RYANAIR is likely to get approval at European level for its offer to take over Aer Lingus but its bid of €1.40 a share will have to be increased.

NCB stockbrokers said that despite the European Commission vetoing the acquisition last year on anti-competitive grounds, the deal should be acceptable this time around if the Government approves.

It said a deal would be highly attractive for Ryanair but views its offer of €1.40 per share as undervaluing the strategic value of Aer Lingus and expects the offer to be ultimately raised.