Pursuits
Vueling Says British Airways Owner’s Bid Too Low, Spurring Stock
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Vueling Airlines SA’s board said investors should reject a 113 million-euro ($148 million) bid from IAG SA for shares the British Airways parent doesn’t yet own, spurring the stock to its biggest gain since the offer.
The 7 euros-a-share proposal from IAG, as International Consolidated Airlines Group SA is known, undervalues Vueling’s business, the Barcelona-based discount carrier said yesterday after European markets had closed.