EasyJet Accepts £5bn Castlelake Takeover at £6.90 a Share
Updated
Updated · The Guardian · Jul 5
EasyJet Accepts £5bn Castlelake Takeover at £6.90 a Share
3 articles · Updated · The Guardian · Jul 5
Summary
EasyJet said it has agreed in principle to a £5 billion takeover by US investment firm Castlelake, a deal that would take Britain’s biggest low-cost airline private.
£6.90 a share won EasyJet’s backing after weeks of talks and several rejected approaches, including a £6.50 bid 10 days ago that the airline said undervalued the business.
3 August is Castlelake’s new deadline to make a firm offer or walk away after both sides asked for more time to complete the transaction formally.
Castlelake said it would support EasyJet’s growth plans, including buying newer aircraft to modernize the fleet and lower fuel costs, framing the deal around a stronger European airline.