International Airlines Group (IAG) on Dec. 18 confirmed it made a bid for Aer Lingus, which the board of the Irish airline has rejected. Aer Lingus said it had received a “preliminary, highly conditional and non-binding approach from IAG” on Dec. 14. The airline’s board “has reviewed the proposal and believes that it fundamentally undervalues Aer Lingus and its attractive prospects.” Therefore, the proposal was rejected on Dec. 16. The airline added that ...

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