AER Lingus is considering an improved 1.36 billion euro ($1.52 billion) takeover proposal from International Consolidated Airlines Group (IAG), the third attempt by the owner of British Airways to buy its Irish rival.
Aer Lingus said on Monday the new proposal was worth 2.55 euros per share, up from a previous 2.40 euros.
The proposal includes a cash offer of 2.50 per euros share and a cash dividend of 0.05 euros per share.
It is also conditional on the recommendation of Aer Lingus's the board and irrevocable commitments from the Irish carrier's two largest shareholders - budget airline Ryanair and the Irish government.
IAG, which also owns Spanish carrier Iberia, has had two takeover proposals rejected by Aer Lingus.
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