Vueling rejects IAG takeover

Victoria
By Victoria March 11, 2013 12:44

Vueling rejects IAG takeover

The board of directors of Vueling, the Spanish low-cost airline, have unanimously rejected a full takeover bid by Britain’s International Airlines Group (IAG). IAG’s offer of €7 a share for the 54% of Vueling that is does not already own has been deemed to be too low and offered no premium to its current market price.
“The Vueling board has a negative assessment of the takeover bid made by the bidder because of the compensation offered, and recommends that shareholders do not accept it,” the airline said.
The airline’s shareholders are expected to vote later this month.

Victoria
By Victoria March 11, 2013 12:44
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