Not getting into the nitty gritty on this, but after reading this quote, I'm wondering if the Chairman of the Board of Aer Lingus actually really understands what it means to be floated on a stock exchange at all.
Speaking of the takeover approach by Ryanair, John Sharman, chairman of Aer Lingus group, said:
How can this be undervaluing the Aer Lingus business, when the government in it's wisdom valued the company at €2.20 per share. Ryanair have valued it at a 30% premium to that, which indicates that it was actually the government which undervalued Aer Lingus in the first place.
Speaking of the takeover approach by Ryanair, John Sharman, chairman of Aer Lingus group, said:
This approach is unsolicited, wholly opportunistic and significantly undervalues the group’s businesses and attractive long-term growth potential.
How can this be undervaluing the Aer Lingus business, when the government in it's wisdom valued the company at €2.20 per share. Ryanair have valued it at a 30% premium to that, which indicates that it was actually the government which undervalued Aer Lingus in the first place.