Castlelake urges EasyJet investors to accept £4.7bn takeover bid

Private equity firm Castlelake has publicly urged investors in EasyJet to accept its latest takeover offer after the budget airline rejected three previous proposals. Castlelake stated that EasyJet has rejected successive takeover bids and criticized the airline for its “unwillingness to engage meaningfully.” The firm's most recent approach, made public, includes an offer price of 625 pence per share, valuing the firm at £4.74 billion, a significant premium over EasyJet's share value at Friday's close. This followed previous offers. Castlelake claims its latest bid "offers compelling value" to EasyJet's shareholders and aims to support the airline as a "stronger, more resilient European airline under European control." EasyJet had previously criticized Castlelake’s “highly opportunistic timing,” suggesting the firm was exploiting its temporarily depressed share price. Castlelake has partnered with Peter Bellew and Mark Breen to navigate European airline ownership rules, which require EasyJet to be majority-owned by EU citizens. Castlelake must make a formal offer or withdraw its bid by June 26.