They will be back once the period ends, they could improve their offer towards the Irish Government, who couls use the money for a start (less austrity for the people of Ireland), if not then they can buy up all the other stock and then EI (75% owned by FR) can agree to "sell" all their assets to FR and wind itself up, then FR can set up a "new" EI (100% owned by FR) and do whatever it wants with it
Also did the EU state the Irish Government had to sell state assets as part of the bailout?
What you're suggesting is impossible under Irish company law.
You are not getting EI's slots for BA, no matter what you so desperately and singularly desire.