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IAG extends Aer Lingus offer deadline again

IAG has again extended the deadline for Aer Lingus shareholders to accept its takeover offer, adding that the 90% acceptance condition has been waived.

Shareholders representing almost 62.5% of Aer Lingus share capital had accepted IAG’s offer by the passing of the most recent deadline of 30 July.

IAG says it is prolonging the acceptance period to 18 August but states that there will be “no further extension”, unless all conditions attached to the takeover offer are lifted.

It points out that these conditions include receiving acceptance of the offer with respect to the shares in Aer Lingus which are being held by Ryanair.

Ryanair has a 29.8% share of Aer Lingus and, earlier this month, its board voted in favour of acceptance of the IAG offer.

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