EasyJet Rejects £4.74 Billion Castlelake Bid as US Fund Publicizes 625p-a-Share Offer
Updated
Updated · BBC.com · Jun 22
EasyJet Rejects £4.74 Billion Castlelake Bid as US Fund Publicizes 625p-a-Share Offer
3 articles · Updated · BBC.com · Jun 22
Summary
£4.74 billion was the value of the latest Castlelake approach that EasyJet rejected, with the airline calling the bid "highly opportunistic."
625 pence per share was Castlelake's publicized third proposal, a 24% premium to EasyJet's Friday close, after the US investor said three approaches this month were rebuffed.
2.14% is the stake Castlelake already holds in EasyJet through managed funds, and it said it disclosed the offer so shareholders could judge it after the board refused to engage.
Friday is Castlelake's deadline to make a firm offer or walk away, while it argues its proposed ownership structure would keep EasyJet compliant with EU rules requiring majority EU ownership.