Sorry, but this would be horrible for Ireland. Before RyanAir entered the market, Aer Lingus ruled the Irish market and could charge ridiculous amounts for short-haul flights from Ireland (like 200 Irish pounds to fly from Dublin to London). Then RyanAir came onto the scene and forced Aer Lingus to be competitive. If RyanAir buys them out, then it's back to the same old scene and the loss of competitive rates. Not to mention, the idea of flying RyanAir on a long-haul flight sends shivers down my spine! I could barely manage them on the 45 minute flight between Dublin and Bristol!
I love flying Aer Lingus between Dublin and the US and I hope they stick around!