Saturday, 2 July 2011

Stick to the flying, Michael

Don't choke on your cornflakes as we take a look back at some of Ireland's biggest buyout blunders
In Ireland Aer Lingus hadn't been floated a wet day on the Stock Exchange in September 2006 when Ryanair pounced. It quickly accumulated a 29.8 per cent stake in its rival at a cost of almost €450m.
With the European Union having blocked the intended takeover, the Aer Lingus share price has collapsed -- leaving the Ryanair stake with a value of just €115m.
Stick to the flying, Michael.
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