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    Ryanair strikes again



    Ryanair purchases further shares in Aer Lingus


    28 November 2006 21:04
    Ryanair has purchased a further €85m worth of shares in Aer Lingus.


    This brings its shareholding in Aer Lingus up from 19% to 25%.


    It is understood the shares, which were purchased from a US hedge fund, were bought at an average price of €2.75.


    Aer Lingus said that the move did not change anything and said the offer from Ryanair did not represent 'good value for shareholders'.


    Despite the development, shareholders opposed to the Ryanair bid still own 46% of Aer Lingus.
    Excellence is hard to keep quite - Sherrie Coale

    #2
    Tis like death by a thousand cuts.

    Comment


      #3
      I wonder what he is up to, he already had a"blocking" stake before this so why spend more money buying more shares when it wont bring any more benefitto ryanair(at least none that I can see anyway).

      Comment


        #4
        Originally posted by McCloud


        Ryanair purchases further shares in Aer Lingus


        28 November 2006 21:04
        Ryanair has purchased a further €85m worth of shares in Aer Lingus.


        This brings its shareholding in Aer Lingus up from 19% to 25%.


        It is understood the shares, which were purchased from a US hedge fund, were bought at an average price of €2.75.


        Aer Lingus said that the move did not change anything and said the offer from Ryanair did not represent 'good value for shareholders'.


        Despite the development, shareholders opposed to the Ryanair bid still own 46% of Aer Lingus.



        Except the size of Ryanair's holding and the likelihoodthat in the endMO'L will havehis way.
        The early bird catches the worm but it's the second mouse that gets the cheese.

        Comment


          #5


          Originally posted by louie
          I wonder what he is up to, he already had a"blocking" stake before this so why spend more money buying more shares when it wont bring any more benefitto ryanair(at least none that I can see anyway).

          - A seat on the board perhaps ?


          - To piss them off just because he can ?


          - To force Aer Lingus to link up with Ryanair for Long haul destinations ?

          Comment


            #6


            My plan just to buy one share to watch what goes on at AL share holders meeting. Priceless!


            Excellence is hard to keep quite - Sherrie Coale

            Comment


              #7
              Originally posted by McCloud


              My plan just to buy one share to watch what goes on at AL share holders meeting. Priceless!





              You are right,It would be a great day out.[img]smileys/lol.gif[/img]
              I distrust Camels and anybody else that go for 7 days without a drink

              Comment


                #8


                Ryanair extends deadline for accepting Aer Lingus bid

                10:00 Tuesday December 5th 2006


                Ryanair has extended the deadline for Aer Lingus shareholders to accept its €1.5bn takeover offer.
                Shareholders now have until December 22nd to sell their shares to the budget airline.


                Ryanair says it has already acquired an additional five million shares, or 1% of the total stock, as a result of the takeover bid.



                Excellence is hard to keep quite - Sherrie Coale

                Comment


                  #9


                  Budget airline Ryanair is "committed" to buying Aer Lingus despite the European Commission starting an inquiry into the 1.48bn-euro (£1bn) bid.
                  Ryanair's offer for Aer Lingus has now lapsed but it said it would make a new bid if Brussels approves the deal.


                  Brussels said the deal would "raise serious competition concerns" for passengers and may push up fares.


                  Ryanair said fares would fall as a result and accused Brussels of an "inconsistent" approach to the issue.


                  Still confident


                  Ryanair boss Michael O'Leary said he was "disappointed" by the decision, which will delay a ruling on the deal until May.


                  But he added: "Ryanair remains confident that its offer, which is consistent with the Competition Commission's stated policy on airline consolidation, will win EU competition approval."


                  Brussels said initial measures proposed by Ryanair to counter concerns about the impact of the deal on competition and prices were inadequate.



                  Aer Lingus says it will co-operate with the Commission in its enquiry


                  Based on takeover rules, all acceptances of Ryanair's offer received to date become void effective immediately.


                  Ryanair will need approval by the Takeover Panel to make another offer next year.


                  Ryanair, which recently increased its stake in Aer Lingus to 25%, defended its bid saying it would lead to lower Aer Lingus fares and fuel surcharges, maintain Aer Lingus as a separate stand alone airline and retain its brand.


                  The Irish government, which holds some 25% of Aer Lingus shares, has stated it would not sell its stake, voicing concerns over the impact such a deal could have on Aer Lingus jobs.


                  It and other investors have said Ryanair's offer undervalues the firm.


                  Together, Aer Lingus and Ryanair operate most flights in and out of Ireland.


                  Please support Milford Hospice. Click here to donate.

                  Comment


                    #10
                    Heard MOL in the radio this morning. He made some good points and came across pretty well tbh.



                    When asked about staff cuts he'd make if he got control and the
                    reaction of unions, he said "don't mind the waffle from that crowd".



                    Priceless.






                    Comment


                      #11


                      I have to say I was a bit surprised that the former boss, Willie Walsh, didn't ride in as a white Knight in the form of a BA takeover. I can still see this potentially happening - one of the most valuable assets Aer Lingus has is it's Heathrow slots.


                      Would there be more hassle if BA took over I wonder?
                      Please support Milford Hospice. Click here to donate.

                      Comment


                        #12


                        Originally posted by Dermot G
                        Heard MOL in the radio this morning. He made some good points and came across pretty well tbh.

                        When asked about staff cuts he'd make if he got control and the reaction of unions, he said "don't mind the waffle from that crowd".

                        Priceless.


                        He should be put in charge of the wholePublic Sector.
                        The early bird catches the worm but it's the second mouse that gets the cheese.

                        Comment


                          #13
                          Originally posted by fitzy73


                          I have to say I was a bit surprised that the former boss, Willie Walsh, didn't ride in as a white Knight in the form of a BA takeover. I can still see this potentially happening - one of the most valuable assets Aer Lingus has is it's Heathrow slots.


                          Would there be more hassle if BA took over I wonder?


                          Willie has enough trouble getting his own flights out at the moment to be worried about anything else !

                          Comment


                            #14


                            Ryanair will get AL one way or another if they so choose. By competing directly on all routes and slashing prices on those routes AL will eventually crumble, due to the fact that Ryanair have deeper pockets to fight for longer and the fact that AL has too high a costbase.


                            I'd say O'Leary is more interest in pi$$ing off the unions and the government that making a huge profit out of this move.

                            Comment


                              #15

                              Originally posted by Arthur Guinness


                              He should be put in charge of the wholePublic Sector.


                              Oh sweet merciful Mother of Christ, noooooo!!



                              You'd have toll roads left right and centre, with extra charges for how
                              many kids, dogs, cats, litres of petrol you're taking through.



                              He'd have the number of customer service representatives, thus doubling the queues.



                              At election time, you'd have underpaid disgruntled staff manning the booths, tossing half aside with a "how much did you pay to vote? So what do you expect?" attitude.

                              Bah, humbug.

                              Munster - Incessant Perfervidity
                              "Ireland Will Choke" - Jeremy Guscott

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