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Wed, Jan 28, 2015

Aer Lingus Entertains IAG Offer

Has Given British Airways Owner Permission To Conduct 'Due Diligence'

The owner of British Airways has made an offer of about $2.88 per share to acquire Aer Lingus ... and the low-cost carrier says it is "willing" to accept the bid from IAG.

Buying Business Travel reports that, according to the Irish carrier, the bid is "subject to certain pre-conditions", but it has granted IAG a "limited period of confirmatory due dilligence."

IAG said if it acquires the Irish airline, it plans to continue to operate Aer Lingus as a separate business with a unique brand and its own management and operations. Two previous offers from IAG have been rejected by the board of Aer Lingus.

Buying Business Travel reports that one of the most valuable assets Aer Lingus brings to the table are slots at Heathrow Airport ... British Airway's main base. Aer Lingus is the third largest carrier at the airport.

There was no deadline reported for the completion of the deal.

(Image from file)

FMI: www.iairgroup.com, www.aerlingus.com

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