Mortyman wrote:It would surprise me if the ceo who is the majority owner and controls the company is interested in selling. Certainly not for the sum that is presented today.
My understanding is that the CEO is the largest shareholder and have seen a figure of 20.5% stated for his holding, that however is nowhere near a majority. if he were the majority holder IAG wouldn't be doing this as there would be zero chance of a hostile bid succeeding.
This seems to be another instance of the IAG vulture circling a potential corpse, last year it was the slots at LGW belonging to the defunct Monarch, previously it was the remains of BMI. Just recently they were unsuccessful in their bid for Lauda. They seem to prefer undervalued/poorly performing assets, rather than paying top price. Norwegian's well documented shortage of cash due to rapid expansion will put them into play, many investors will be happy to bank a profit on their holdings, certainly if they see little prospect of an imminent recovery of the share price.
Meanwhile IAG are in a win/win situation as they have already doubled their investment.