Low-cost carrier Norwegian has released that its Board has rejected two offers from IAG in relation to an acquisition of 100% of the share capital of NAS, stating they undervalued the carrier.
When IAG acquired a 4.61% stake in Norwegian last month in order to open negotiations, Norwegian initially made it abundantly clear it had no interest in discussing any takeover. However, subsequent to this, and in a less bullish stance, Norwegian appointed advisers to evaluate the approaches made by IAG.
