Ryanair bid for Aer Lingus - latest news

What would have been an interesting Presidential style debate on RTE television's 'Primetime' program between Ryanair CEO Michael O'Leary and Aer Lingus Chief Executive Dermot Mannion was called off this afternoon on the advice of the takeover Panel. The debate to discuss the proposed takeiver of Aer Lingus by Ryanair had been confirmed this morning but this afternoon RTE, the State Broadcaster was advised by the Takeover Panel that they had given a driection to both parties under the 1997 Takeover Act not to appear on the program and that 'Participation by representatives of either Aer Lingus or Ryanair in the Prime Time programme would therefore result in a breach of the Panel's statutory direction to the parties.'

Also today, Merrion Capital suggested that Ryanair would increase it's offer for Aer Lingus during the month of January following the rejection last week by Aer Lingus of the current offer of €1.40 per share.

"We believe Ryanair's intent is serious and that it will raise its offer -- and will do so before the last date for amending its offer, Jan. 30," analysts at Merrion said in a research note.

"In that event, we would expect ordinary Aer Lingus shareholders to urge their board to engage meaningfully with the bidder, as Ryanair is likely to be precluded from returning for 12 months if its offer lapses,"