Aer Lingus Group plc sought to rally shareholders with a letter Friday, Nov. 3, urging them to reject an unsolicited €1.48 billion ($1.88 billion) bid from discount carrier, and fellow Irishmen, Ryanair Holdings plc. Citing Aer Lingus' transformation in recent years, which seems to have culminated with its initial public offering in September, the carrier's chief executive John Sharman stated: "Faced with a strong, well-capitalized and independent Aer Lingus, Ryanair, our principal short-haul competitor, has reacted in a hostile, anti-competitive manner designed to eliminate a rival." Ryanair approached its rival with a hostile bid in October, two weeks after the target's float. On Monday, Ryanair presented Aer Lingus shareholders with a 125-page outline of its offer. The company has until Nov. 13 to respond. Ryanair's chief executive Michael O'Leary said the target's share price, will likely see a dramatic decrease if it fails to jump on board with the merger. But that's not all he has been saying. See a profile of the colorful executive from The Deal newsweekly.—Carolyn Murphy
Aer Lingus spurns Ryanair bid
Feisty flyer O'Leary
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