Aer Lingus confirms new takeover bid by British Airways parent IAG, considers improved offer

MarketsAssociated Press

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.