Key facts
- EasyJet has rejected three takeover proposals from Castlelake LP.
- The latest offer from Castlelake valued the airline at approximately £4.74 billion ($6.3 billion).
- EasyJet stated the offer was an attempt to buy the company "on the cheap."
- Castlelake has now taken its latest proposal directly to EasyJet shareholders.
- EasyJet shares rose 5.4% after the announcement.
EasyJet Plc has rejected three takeover proposals from investment firm Castlelake LP, with the latest offer valuing the budget airline at approximately £4.74 billion ($6.3 billion). The UK carrier stated that Castlelake is attempting to acquire the company "on the cheap." Following the rejection of its proposals and EasyJet's unwillingness to engage meaningfully, Castlelake has decided to present its latest offer of 625 pence per share directly to EasyJet shareholders. The airline's stock saw a rise of as much as 5.4% to 531.2 pence, indicating investor skepticism about the current bid level.