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Ryanair puts in bid for Aer Lingus

Ryanair puts in bid for Aer Lingus
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Europe’s largest low-cost airline Ryanair has launched a 750 million euro bid to buy rival carrier Aer Lingus. The new offer is half the price Ryanair put on the table in 2006, which was blocked by the European Union. The company, which already owns 29 percent of Aer Lingus, said the all cash offer represented a 28 percent premium over the closing price of Aer Lingus shares for the last 30 days. The Irish government is opposed to a buyout.