IAG takeover of EI aborted!

[Algol]

Looks like Micko is messing with our heads yet again!

Ryanair says won't accept IAG offer for Aer Lingus until mid-August (http://www.irishtimes.com/business/transport-and-tourism/ryanair-says-won-t-accept-iag-offer-for-aer-lingus-until-mid-august-1.2302333)

Better put the champagne back in the fridge Willy!

[vctenderness]

Better still put Mental Mickys willy in the fridge :8

[ayroplain]

Completely false and misleading heading.

[Algol]

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?

[Wolverhampton]

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

[aer lingus]

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

[AerRyan]

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.

[Algol]

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.

[AerRyan]

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.

[Sober Lark]

one thing I've learned is he's a slippery bugger


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

[racedo]

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'.



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


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.


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.



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.

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.

[ssflyer]

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

[EI-BUD]

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...

[Algol]

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.

[Wolverhampton]

Algol

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

[racedo]

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.

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.

[EI-BUD]

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

[Algol]

How is a legitimate takeover Industrial sabotage ? That is NORMAL business.
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 (http://www.telegraph.co.uk/finance/newsbysector/transport/11408051/Ryanair-forced-to-sell-Aer-Lingus-stake-under-Court-of-Appeal-ruling.html)

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.
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?

Financial Media confiem nothing of the sort rather Ryanair will get its money back.
Not after legal costs. So they say. Indeed they do say.

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

After all you in your own words have been stalking him for 10 years.
So watching the news is stalking? Paranoid much?


Equally, hindsight is 20/20, so the critique that says it was a bad investment would not have made a better of it.

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

[racedo]

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 (http://www.telegraph.co.uk/finance/newsbysector/transport/11408051/Ryanair-forced-to-sell-Aer-Lingus-stake-under-Court-of-Appeal-ruling.html)

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.




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?


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.




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!

You seem to believe watching the news is it.

Guess we saw that in the FALSE headline.

[Algol]

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

IAG has made its offer conditional on getting acceptances from both Ryanair and the Government, which holds the State’s 25.1 per cent stake.

http://www.irishtimes.com/business/transport-and-tourism/walsh-confident-ryanair-will-weigh-iag-s-aer-lingus-offer-1.2227745

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


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.

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.

[Heathrow Harry]

IAG given clearance by Irish government for Aer Lingus takeover | Business | The Guardian (http://www.theguardian.com/business/2015/may/26/iag-given-clearance-by-irish-government-for-aer-lingus-takeover)

The owner of British Airways (http://www.theguardian.com/business/britishairways) is set to take over Aer Lingus in a deal that values the Dublin-based flag carrier at €1.4bn after the Irish government agreed to sell its stake to International Airlines Group.


Paschal Donohue, Ireland’s transport minister, confirmed that the sale of the former Irish state carrier to IAG can now go ahead.


The Dublin government owns 25% of the airline but its agreement, after six months of consideration, was critical for the deal to progress.


Following a Cabinet meeting on Tuesday evening, Donohue said: “IAG has provided additional information and certain commitments in relation to its proposal. Following detailed consideration of this and all of the issues surrounding a potential disposal of the state’s shareholding in Aer Lingus (http://www.theguardian.com/business/aer-lingus), the government has decided that it will support IAG’s proposal.”

[ayroplain]

Algol,

Whatever agenda you appear to have is blinding you to the facts. The Irish Times link you posted is months out of date.

Since then, the Ryanair Board has unanimously voted to accept the IAG offer. Nobody, not even MOL, can turn that around. The short delay is purely for “bookkeeping” reasons, for want of a better word.

Your heading continues to be false and misleading and, in a few weeks time, you will look back and see how foolish your comments are.

[Algol]

You sound worried. :}
No need to get all hot and bothered kiddo. It's all just a bit of fun. A little debate. Get it?
Take a chill pill and relax.

[racedo]

You sound worried. :}
No need to get all hot and bothered kiddo. It's all just a bit of fun. A little debate. Get it?
Take a chill pill and relax.

So what you are saying is you have been TROLLING from the start.

[Algol]

Yes. Absolutely.

I don't take this website as seriously as you seem to. Or your boss.
You're an angry little man. Like the PPRuNe dog who's been beat too much you just snap at everything that passes!:=
Its instinctive like.
Inbred.

[Algol]

Quote:by Algol
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'.

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


Required?
Oh don't make me laugh!

He might have said "No comment".
Or "No".
Or "Maybe".
Or "I'm not decided".
Or "Up Cork".
Or any number of other clever, witty, and non committal responses.
In fact I'd be very surprised if you can show me any stock market reg anywhere that requires you to lie outright in public. Go ahead and amaze me! You can DO IT!
Show me where in any stock market regs it requires a stock buyer to mention barge poles?
Where does it say a buyer must lie if asked about their desire to purchase stocks?
Remember, at this stage that's all he was, a prospective investor. He had no more seniority than any other investor - the shares had not been floated at the time he was asked that question.
Woof Woof.

[CabinCrewe]

... when do the school holidays finish ? 😠

[Algol]

In fact, yes, didn't RTE indeed report that a High Court Judge called O'Leary a liar?
Ah - here it is;
Judge criticises Michael O'Leary for lying - RTÉ News (http://www.rte.ie/news/2010/0326/129233-ryanair/)

[EI-BUD]

Algol,


Seriously! Feeling like you are here to aggravate people to make a statement so it could appear as a headline in a newspaper somewhere... jog on.. trolling is not the word for it.


Your rants are childish to say the least and you are picking battles with a number of fellow Ppruners that are clearly fair more knowledgeable on the subject. Pointless.


I never said at any point anything about sabotage, I expressed my commercial opinion; that you got all hot and bothered about. Please do not make any further comments involving my profile name.


EI-BUD

[aer lingus]

If people just ignore him he will go away in the end.