Aer Lingus has confirmed that British Airways parent IAG has made an improved takeover offer of 2.55 euros ($2.85) per share, and the board of the Irish airline says it is seriously considering the proposal.
The Dublin-based airline unveiled details of the offer in a statement Monday to the Irish Stock Exchange.
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The offer — the third made by IAG in the past month — values Dublin-based Aer Lingus at more than 1.3 billion euros ($1.45 billion). Aer Lingus is chiefly prized for its ownership of 24 landing slots at high-demand Heathrow Airport near London, but the airline also has a growing trans-Atlantic network to the United States.
Monday's confirmed offer is higher than IAG's previous offers of 2.30 euros in December and 2.40 euros earlier this month.