Key facts
- Castlelake is considering a partnership with MSC for a potential easyJet takeover bid.
- MSC's involvement would help Castlelake comply with EU ownership rules.
- Castlelake previously stated it was in the early stages of considering a takeover.
- The deadline for Castlelake to make a firm bid is June 26.
- EasyJet shares rose 2.3% following the report.
U.S. investment firm Castlelake is reportedly exploring a partnership with MSC, the world's largest shipping group, to facilitate a potential takeover bid for the British budget airline easyJet. According to Italian daily Corriere della Sera, Castlelake hopes to involve MSC to ensure compliance with European Union ownership regulations should it decide to present a formal offer. Castlelake had previously indicated it was in the early stages of considering a possible offer exceeding 403.23 pence per share. EasyJet shares rose 2.3% following the report, having gained about 15% since Castlelake's initial statement. Under UK takeover rules, the firm has until June 26 to submit a firm bid or withdraw its interest. MSC, run by Italian billionaire Gianluigi Aponte, is a global group spanning container shipping, logistics, terminal and inland transport operations, and passenger cruises. A combination with easyJet could allow MSC to control the entire leisure travel chain, from flights to cruise ships, similar to the model of German travel group TUI. EasyJet also operates a holiday package business.