Aer Lingus says Ryanair offer undervalues airline
LONDON (Reuters) - Aer Lingus (AERL.I) urged its shareholders to ignore the latest takeover offer from rival Ryanair (RYA.I) on Wednesday, saying it undervalued the Irish airline and may not be allowed by regulators anyway.
"The board, having considered the offer with its advisers, believes the offer, even if it is capable of completion, undervalues Aer Lingus," it said. "Aer Lingus shareholders are accordingly advised to take no action."
Ryanair, already the largest shareholder in Aer Lingus with a 30 percent stake, announced the surprise bid after markets closed on Tuesday, saying it would pay 1.30 euros ($1.65) per share in a bid to increase its stake to at least 50 percent.
(Reporting by Kate Holton)
TOKYO - The dollar stayed strong and U.S. bond yields held firm on Thursday after data showed solid U.S. economic growth, even as the Federal Reserve repeated its message that it is in no hurry to raise interest rates.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.