The Board of Norwegian Air Shuttle (NAS) has confirmed that it has received two separate conditional proposals from British Airways owners IAG Group, in relation to an acquisition of 100% of the share capital of NAS.
These proposals were reviewed in conjunction with NAS’ financial and legal advisers, and were unanimously rejected on the basis that they undervalued NAS and its prospects.
The NAS Board stated that they remain fully committed to delivering on its stated strategy, for the benefit of all NAS shareholders.
The low cost airline has UK bases in London Gatwick, Belfast, Edinburgh and Manchester.
Norwegian is the third largest airline at London Gatwick, with 4.6 million yearly passengers, and with more than 1,000 UK-based pilots and cabin crew.