Aer Lingus board to recommend IAG take-over offer

Following the close of trading on Friday Ireland's flag airline carrier recommended to its shareholders the take-over bid tabled last month by rival IAG.The chief executive of Aer Lingus, Colm Barrington, said the company's board was convinced of the company's ability to continue growing following a purchase.Barrington said: "The board's view is therefore that a combination of Aer Lingus with IAG has a compelling strategic rationale and will deliver significant benefits for Aer Lingus, its employees, its customers and for Ireland," the Financial Times reported.IAG's chief met on Thursday with an Irish government panel to review the offer and to address Dublin's worries over whether the firm would continue to employ its take-off and landing slots at Heathrow to service passenger routes between Ireland and London.The Irish government holds a 25% stake in Aer Lingus.Shares of Aer Lingus finished the session down by 1.34% at €2.21, while IAG lost 1.34% to 554p.