Aer Lingus Rejects Bid by British Airways Parent

December 18, 2014 4:27 PM

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Irish airline Aer Lingus has rejected a takeover bid by the International Consolidated Airlines Group, the parent company of British Airways and Spain's Iberia.

Shares in the Dublin-based carrier surged by as much as 21 percent Thursday amid rumors of a possible bid. Those gains were pared after IAG issued a statement confirming its proposal had been rejected by the Aer Lingus board.

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