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Tue 12 Dec 2008Aer Lingus rejects new takeover offer from Ryanair
THE BOARD of Aer Lingus yesterday rejected a new offer from Ryanair to buy the airline, following an emergency meeting of its board of directors.
Ryanair offered €1.40 a share for its rival, valuing Aer Lingus at €748 million. This is a premium of about 28 per cent to Aer Lingus's share price last Friday, but half what Ryanair offered when it last made a swoop for its rival in late 2006. That was just weeks after the former State-owned airline was floated on the stock markets in Dublin and London.
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