EasyJet rejects US investment giant’s £4.7bn takeover bid
EasyJet rejects US investment giant’s £4.7bn takeover bid
Chris PriceMon, June 22, 2026 at 7:26 AM UTC
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EasyJet's board previously criticised 'the highly opportunistic timing' of Castlelake's interest - Getty
EasyJet has rejected a £4.7bn takeover bid by Castlelake, the third in a series of offers by the US private credit giant.
Castlelake said it was taking its offer for the low-cost airline directly to shareholders as it accused easyJet's board of refusing to engage with the proposals.
The latest offer, worth 625p per share, represents a 59pc premium on easyJet's share price before Castlelake's takeover interest was first revealed at the end of May.
EasyJet's shares have since made a sharp recovery over the prospect of a takeover, having fallen by as much as 27pc in the wake of the Iran war.
In a statement to easyJet investors on Monday, Castlelake said: "Following the rejection of three proposals by the easyJet board, and given its unwillingness to engage meaningfully, Castlelake is announcing this third proposal to enable easyJet shareholders to consider its merits and provide their views on the third proposal to the easyJet board."
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EasyJet's board has previously criticised "the highly opportunistic timing" of Castlelake's interest as airlines have been hit with rising fuel costs as a result of the Middle East conflict.
Such a deal would represent another blow to the City, removing one of the most recognisable brands from London's stock market.
Castlelake said it would offer shareholders an opportunity to stay invested in the company as part of a deal to take it private.
The US firm has revealed details of the deal before the upcoming so-called "put-up or shut-up" deadline at 5pm June 26, when it must make a formal offer or walk away.
It said its offers were higher than any easyJet closing share price since February 2022, and exceeded all analyst price targets for the airline.
Its first two bids valued the company at 560p and 600p per share. EasyJet shares closed at 504p on Friday.
Source: “AOL Money”
