Company Watch - Ryanair.Nov 27, 2006 Ryanair's bid for Aer Lingus appears to be dead following yesterday's overwhelming vote to reject the offer by members of EI's Employee Share Ownership Trust, which holds 12.58% of the flag carrier. The SIPTU SIPTU Services, Industrial, Professional & Technical Trade Union (Ireland) and Impact unions reported that 97% of voting ESOT ESOT Employee Share Ownership Trust (UK) ESOT European Society for Organ Transplantation members opted to oppose the bid on a 70% turnout. The Irish government already has indicated it will not sell its 25.35% stake. Ryanair holds 19.16%. The bid is conditional on securing at least 50.1%. Nov 23, 2006 Ryanair CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Michael O'Leary said yesterday in a letter to Aer Lingus shareholders that the LCC (Leadless Chip Carrier, Leaded Chip Carrier) See leadless chip carrier, CLCC and PLCC. 1. LCC - Language for Conversational Computing. Written at CMU in the 1960's. will not raise its [euro]2.80 ($3.59)-per-share bid despite the poor response from EI shareholders. "In our opinion, there is nothing in the Aer Lingus defense document or its strategy as articulated by the chief executive that justifies a price in excess of [euro]2.80," O'Leary said in the letter, according to press reports. Ryanair has extended the deadline for its offer until Dec. 4. Nov 22, 2006 Ryanair, Europe's biggest budget airline said on Tuesday it would not increase the bid, which values Aer Lingus at EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 1.48 billion (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $1.9 billion). Having said it will not raise the offer, Ryanair cannot bid again for the airline in the next 12 months. Nov 22, 2006 Ryanair recently announced the launch of thrice-weekly Nottingham East Midlands-Rimini service on March 27 and the signing of an online gaming partnership with jackpotjoy.com, the UK's biggest online bingo operator, as a part of its effort to up ancillary revenue through its website. Nov 22, 2006 Editor: Aram Gesar, eMail: edit@AirGuideOnline.com For more global news, reviews, features and analysis, please go to: http://www.airguideonline.com/onlinenews.htm To Subscribe to our Newsletters: http://www.airguideonline.com/order_formsubs.htm#news To Advertise: advert@AirGuideOnline.com Nov 13, 2006 |
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