IAG takeover of EI aborted!
 

Looks like Micko is messing with our heads yet again!

Ryanair says won't accept IAG offer for Aer Lingus until mid-August

Better put the champagne back in the fridge Willy!

Better still put Mental Mickys willy in the fridge :8

Completely false and misleading heading.

Really? How so?
Willy already said he won't do the deal if he doesn't have FR and the Irish Government on board. He has the IG, but not FR.

O'Leary is a bad loser, and this is him enjoying pi**ing on Willys parade. Perhaps it's just that petty.
On the other hand, what's to say he isn't looking for more money?

Very misleading thread title. Delayed may have been a more appropriate word to use.

Only posponed till mid August, Ryanair will get paid at a time when it suit's their balance sheet.

As has been said already, RYR are only delaying it until mid august so that their check will arrive at a time that's more beneficial to their accounts.

Iag will extend the deadline to meet RYR's needs. Easily done.

Before the EI IPO Micko was asked if he'd like to buy EI. He said 'I wouldn't touch it with a barge pole'.
The morning after the launch - to the shock and horror of the IG and EI- he announced the start of his takeover bid. Within months he owned 29% of the company, and he wasted enormous amounts of money and effort over the next 9 years trying to get control of it.

So now he says he's selling. Peaceably like.
Hmmm.

Then he decides to 'delay' his commitment to the sale, right on the last day of an arbitrary deadline set by the guy who screwed him out of winning the biggest project he invested himself in for the last 9 years.

I've observed MOL for well more than a decade, and one thing I've learned is - he's a slippery bugger, and he'll always throw a left fielder when you aren't expecting it.

So I wouldn't be so dang certain this game is over yet.

I disagree.

Your headline is completely misleading, the takeover is far from aborted, if it was anywhere near that there would be alot more media coverage.

Isn't success 20 work and preparation and 80 playing the mental game. Great to see him so successful.

A statement required of him as saying anything else would be deemed by Stock Exchange as interfering in an IPO.

He wasted bugger all money as he didn't make a bid, the company he works for made a bid and are pretty much recovering all their money.

You clearly are out of your depth.

Firstly IAG got more than 50.00000001% acceptances and accordingly are in control of Aer Lingus.

Secondly the timing is done to suit Ryanair as believe it or not Michael O'Leary and the Board of Ryanair are responsible to the shareholders of Ryanair not anybody else. They act in Ryanairs interests solely.

Thirdly Ryanairs legal acceptance of the offer has no bearing on anybody but themselves as there is no trade in Aer Lingus shares.

Mickey was interviewed on BBC News and confirmed that FR will be selling their shares,it is agreed and will happen mid August.
I agree thread heading is totally misleading...
SSF

Algol,

I disagree that enormous money was wasted. This is not a pro or anti Ryanair commentary btw...

It was a very worthwhile pursuit to try and aquire EI on Ryanair's part. Into the bargain, FR certainly distracted the business of EI management to the point where FR's interest was a constant pressure. Yes if FR had put the money in the bank it would have earned more but at least they are recouping the original investment.... Got a fair bit of PR coverage too in the mean time...

In other words you allege FR was intent on industrial sabotage and you condone it.

That's why the regulators eventually forced him out?. Nice to see you admitting that?

The financial media all confirm that FR will lose money on this deal.
Not to mention olearys massive loss of face.

Algol

You seem to be missing the very important point that your thread title is misleading and inaccurate. :=

How is a legitimate takeover Industrial sabotage ? That is NORMAL business.

Regulators didn't force him out as Ryanair are still holding 29% shareholding, they made an incorrect judgement as shown in IAG taking over EI and the issue had not been resolved yet in the courts.

Financial Media confiem nothing of the sort rather Ryanair will get its money back.

As for loss of face, running one of Irelands biggest companies for 20 years, returning €3 billion to shareholders and being a key driver of European aviation I somehow think Michael O'Leary can take your flawed opinion of him losing face.
After all you in your own words have been stalking him for 10 years.

Thank you Algol for your comments. I'm certainly not suggesting financial sabotage, I never used those words and I'm not a spokesman for Ryanair or Aer Lingus.

It would be naive to believe that FR wanted to take-over Aer Lingus because they liked the idea. In the Irish market Aer Lingus is and has been a formidable competitor for Ryanair. That has to be recognised. If I was MOL I would certainly have pursued a take over.

In MOL's defence he has done everything thst he could be secure the takeover, and his ultimate desire to secure the takeover would undoubtedly favour the shareholders. Some bets you lose, doesn't mean you don't take them. Equally, hindsight is 20/20, so the critique that says it was a bad investment would not have made a better of it.

Ei-bud

Actually it was EI-BUD who inferred it was sabotage, not me! Ask him to clarify the 'pressure' word. Was it good or bad pressure? The EI board had its stated opinions also. Hence the Court actions they took.

This article here says FR was camping on the EI register. And using appeals to delay being kicked out. Apparently 9 or 10 judges agreed with that view.
Ryanair forced to sell Aer Lingus stake under Court of Appeal ruling - Telegraph

No indeed, he went down fighting.:}
But you make me curious Recedo. Why is he selling if he thinks he can win his latest appeal?
He's apparently continuing that. To what possible end? Just to prove a point?
Like I said - I think you're writing your hero off too soon! Maybe he'll scupper the whole deal if that appeal goes his way. Don't you have any faith in it succeeding?

Not after legal costs. So they say. Indeed they do say.

Right.
But he lost this one.
Or maybe not, eh?;)

So watching the news is stalking? Paranoid much?


In hindsight, maybe he should have quit 8 years ago. But who knows, eh!

Telegraph can say what it likes, ultimately EU competition is decided by EU courts not UK ones.
UK Govt never see monoplistic positions when UK listed company involved, classic case of BAA aptly illustrates this.


Do you actually know anything about this appeal or are you just smoke screening.

You keep using "He" when Ryanair was the bidding company.

IAG now own 64% of EI so the takeover has already been done and dusted yet you are coming on here making a clear false claim that the takeover is off.


You seem to believe watching the news is it.

Guess we saw that in the FALSE headline.

No, the deal IS NOT done yet matey! 64% won't cut it. And it's at 62.4% by the way, tsk tsk.

Do you seriously think Walsh would get into bed with O'Leary if he decided not to sell?
Ooo...there's an image...

No, I disagree. The Telegraph (and all other media outlets) know they cannot 'say anything they like' for two good reasons! The first is their journalistic credibility, and the second is - if they say anything remotely sueable about Ryanair - Ryanair will sue them. They do it all the time.
So I'm sure the Telegraph have checked it with their lawyer first.

As to the UK's right to rule on this matter - The UK has the right to legislate on its home territory. And if FR wants to do business there (and they do a lot) then I guess FR can either comply, or leave if it doesn't like it!

Furthermore, FR is listed on the London Stock Exchange.
Perhaps they'd prefer not to de-list?

If FR thought the UK had no jurisdiction, they'd just ignore them, wouldn't they, instead of appealing the case over and over again. Why bother if the UK CMA has no jurisdiction?
Obviously FR relieves they do - even if YOU don't! (actually you know very well they do, but you're just acting dumb).

If you think this is bullying by the UK I say Bravo! It's always nice to see a bully get a taste of their own medicine. FR likes to throw their weight around, picking on little people, weak targets who can't afford to defend themselves. How typical of a bully, that when they gets a kick from somebody bigger they whinge like a little girl.
So, more power to the UK Competition Authority.
And drop your tiresome protests of national prejudice.