Aer Lingus Group Plc urged its shareholders to reject a 694 million-euro ($882 million) bid from Ryanair Holdings Plc, saying it can’t recommend an offer that’s likely to be blocked by antitrust regulators.
Even if Ryanair’s renewed approach, worth 1.30 euros a share, a premium of 38 percent on yesterday’s close, were to secure approval, it’s too low given recent financial performance figures, Dublin-based Aer Lingus said today in a statement.
