Key facts
- EasyJet's board agreed to recommend a takeover bid.
- The takeover bid is from U.S. private equity firm Castlelake.
- The total value of the takeover bid is £5.5 billion.
- The offer price is £6.90 per share.
- This is the fifth offer made by Castlelake.
- EasyJet shares rose nearly 10% after the announcement.
EasyJet's board of directors has announced its agreement to recommend a takeover bid valued at £5.5 billion from U.S. private equity firm Castlelake. This significant offer comes after Castlelake had previously submitted four rejected proposals to the airline. The current offer stands at £6.90 per share, a price that has now garnered the board's approval for recommendation to shareholders. Following the news, EasyJet's share price experienced a notable increase, rising by nearly 10%. The potential acquisition marks a substantial development for the budget airline, which has been navigating the competitive landscape of air travel.