Aer Lingus shareholders to get offer document from IAG
A document with the final terms of IAG's recommended €1.4bn of Aer Lingus is being sent out to shareholders in the Irish airline today.
Shareholders have until 5pm on July 16 to accept the offer. An extraordinary general meeting will be held at 10am on July 16 at the Crowne Plaza Hotel, Northwood Park in Dublin.
Last month IAG announced the terms of its recommended cash offer to be made by AERL Holding, a wholly-owned subsidiary of IAG, for Aer Lingus .
The offer comprises of €2.50 per Aer Lingus share, as well as a cash dividend of €0.05 per share.
The deal now hinges on the actions of Aer Lingus' largest shareholder, rival airline Ryanair which holds a near 30pc stake in the company.
Ryanair was recently ordered by the UK's Competition and Markets Authority to sell down its stake in Aer Lingus to no more than 5pc.
The Government has already agreed to sell its 25.1pc stake in the Irish carrier to IAG, which is headed by Willie Walsh.