Key facts
- easyJet has agreed in principle to a takeover bid.
- U.S. investment firm Castlelake made the takeover proposal.
- The takeover bid is valued at £5.5 billion.
- The offer amounts to $7.34 billion.
- The offer price is £6.90 per share.
- The offer represents a nearly 24% premium to Friday's closing price.
British budget airline easyJet has accepted a takeover proposal in principle from U.S. investment firm Castlelake. The offer, valued at £5.5 billion ($7.34 billion), includes a price of £6.90 per share. This offer represents a premium of nearly 24% compared to easyJet's closing share price on Friday. The potential acquisition marks a significant moment for the budget carrier as it considers its future within the European aviation sector. Castlelake, a private equity firm, is known for its investments in aviation and transportation. The deal's specifics regarding regulatory approvals and finalization are expected to be detailed in subsequent announcements. easyJet's board has indicated its agreement in principle, suggesting a positive reception to the terms presented by Castlelake. The valuation of the airline at $7.34 billion underscores its market position and potential for future growth, which Castlelake likely aims to capitalize on. Further details on the transaction timeline and conditions are anticipated.