A third attempt by Ryanair to take control of Aer Lingus has been rejected by the target carrier’s board of directors. The rejection of Ryanair’s bid of €1.30 ($1.65) a share not only undervalues Aer Lingus, but coincides with a U.K. regulatory examination of the low-fare airline’s two previous takeover attempts and the effect of its current 29.82% holding in Aer Lingus, the board tells shareholders in a recommendation to reject Ryanair’s bid. Aer Lingus management also points to an ...

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