Irish firms A&L Goodbody and Arthur Cox have reprised their roles for Ryanair and Aer Lingus respectively as the former prepares to make another attempt to buy the latter.
A&L Goodbody corporate partner John Given is leading the team acting for Ryanair, which is set to make an all-cash offer for Aer Lingus that would value the airline at EUR748m (£619m). Aer Lingus has turned to a team lead by Arthur Cox chairman Eugene McCague.
Given and McCague faced each other just over two years ago when Ryanair made an unsuccessful bid for the Irish flag-carrier airline. That offer, which saw Ryanair offer EUR1.48bn (£1.23bn) for its rival, was blocked by the European Commission on competition grounds as the combined airline would have controlled more than 80 per cent of European flights to and from Dublin airport.
Ryanair, which already owns around a third of Aer Lingus, bought a 16 per cent stake in its rival at the time of its first approach. Aer Lingus’s board rejected the original offer claiming it significantly undervalued the group’s business.
Given and McCague declined to comment.