Aer Lingus to accept takeover bid from BA owner IAG - report
The Financial Times has reported that Aer Lingus is set to accept the latest takeover offer from BA owner IAG.
It is understood the parent company of British Airways has approached the carrier with a fresh bid.
According to Sky News, International Airlines Group (IAG) pitched its latest proposal at €2.50 a share, valuing Aer Lingus at about €1.3bn.
Sources told the news channel that the bid was submitted earlier this week and directors for Aer Lingus discussed it yesterday.
The Aer Lingus board rejected two other bids in recent weeks, worth €2.30 and €2.40 a share.
The Financial Times has now said Aer Lingus is expected to recommend the bid to its board.
The Irish Government owns a 25.1% stake in Aer Lingus. Ryanair owns 29.9%.
