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| Ryanair offer boosts Aer Lingus shares | |
| (40 minutes later) | |
| Aer Lingus shares have risen more than 20% following rival Ryanair's latest attempt to buy the airline. | |
| They were up 23 cents to 1.17 euros. But the shares are still well down on their peak of 3.27 euros, reached in 2007 shortly after their flotation. | |
| On Tuesday, Ryanair said it planned to make a cash offer for Aer Lingus, which would value it at 694m euros (£561m). | On Tuesday, Ryanair said it planned to make a cash offer for Aer Lingus, which would value it at 694m euros (£561m). |
| Aer Lingus issued a statement urging shareholders to take no action following "a third unsolicited offer". | |
| It said it noted the announcement by Ryanair of its intention to make an offer for the company, and said it would make a statement in due course. | |
| Ryanair's latest offer of 1.30 euros a share marks a premium of 38.3% above Tuesday's Aer Lingus closing price. | |
| On Friday, Ryanair's existing 30% holding was referred to the UK's Competition Commission for an inquiry that could lead to it being forced to sell the stake. | |
| When Ryanair tried to buy its Irish rival in 2006, its attempt was blocked by the European Commission. | When Ryanair tried to buy its Irish rival in 2006, its attempt was blocked by the European Commission. |