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- Oct 29, 2003
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https://www.bloomberg.com/news/arti...ner-is-said-to-consider-bid-for-norwegian-air
IAG SA bought a stake in Norwegian Air Shuttle ASA and said it’s considering making a full offer for the discount competitor, signaling a new round of dealmaking in a rapidly consolidating European airline market.
A potential acquisition could value the company, which has a market value of more than $1 billion, at about $3 billion including debt, people with knowledge of the matter said, asking not to be identified because the deliberations are confidential.
IAG will use the 4.61 percent stake to initiate discussions with Norwegian, it said in a statement after Bloomberg News first reported it may make an offer. The ownership stake makes it harder for Norwegian to brush off the approach while acting as a deterrent to rival bidders.
IAG SA bought a stake in Norwegian Air Shuttle ASA and said it’s considering making a full offer for the discount competitor, signaling a new round of dealmaking in a rapidly consolidating European airline market.
A potential acquisition could value the company, which has a market value of more than $1 billion, at about $3 billion including debt, people with knowledge of the matter said, asking not to be identified because the deliberations are confidential.
IAG will use the 4.61 percent stake to initiate discussions with Norwegian, it said in a statement after Bloomberg News first reported it may make an offer. The ownership stake makes it harder for Norwegian to brush off the approach while acting as a deterrent to rival bidders.
