The board of Aer Lingus Group has considered Ryanair's announcement that it intends to make another unsolicited offer for the whole of the issued and to be issued ordinary share capital of Aer Lingus not already owned by Ryanair at a price of €1.40 per share. The offer is considerably lower than that made in 2006.
Aer Lingus's statement noted that Ryanair's prior offer lapsed on 20 December 2006, having failed to achieve antitrust clearance. Following a thorough review, the European Commission prohibited Ryanair’s takeover of Aer Lingus on 27 June 2007. Ryanair is now appealing the European Commission prohibition. Consequently, this new lower offer is not capable of completion," according to Aer Lingus, which adds, "Aer Lingus remains a strong business with significant cash reserves and a robust long term future. The board believes that the offer significantly undervalues Aer Lingus. The board rejects this new offer and Aer Lingus shareholders are strongly advised to take no action in relation to the offer."
The DoD has changed its structures and is been increasing efforts to facilitate access to loans by companies interested in working with artificial intelligence, advanced materials and semiconductors, biotechnology and quantum science.
India has approved millions of dollars in new military purchases, most of which will go to public sector companies.
The main obstacles to overcoming risks in the region are a lack of a strong cybersecurity culture and inadequate funds to invest in this domain given a widespread Chinese presence in the region.
MBDA is adapting to supply chain pressures as the Russian invasion of Ukraine leads to increased demand for armaments.
Despite the additional funding promised this week, the UK armed forces still look set to face cutbacks, and maintaining international commitments to AUKUS and GCAP may limit the options for other programmes.
This week on the Shephard Defence Podcast, senior naval reporter Harry Lye and military training & simulation reporter Norbert Neumann chat with Professor John Louth.
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