The Board of Directors at Aer Lingus has confirmed it has received another takeover bid from IAG.
In a statement to the stock exchange this morning, it says the offer values each share at €2.55.
The revised offer is conditional on due diligence, the recommendation of the Board of Aer Lingus and the receipt of a commitment from Ryanair and the government, both of whom had significant shares in the airline, to accept the offer.
In brief statement to the Stock Exchange Aer Lingus says it is considering the offer. The company has advised the shareholders to take no action.
Transport Minister Paschal Donohoe is to brief the cabinet on the development at tomorrow's weekly meeting.
