Key facts
- EasyJet has opened discussions with Castlelake.
- EasyJet rejected Castlelake's fourth takeover bid.
- The rejected offer was £6.50 per share.
- EasyJet cited undervaluation as a reason for rejection.
- EasyJet also raised concerns over the ownership structure.
- EasyJet will provide commercial information to Castlelake.
- This is the fourth takeover offer EasyJet has rejected from Castlelake.
EasyJet has initiated discussions with Castlelake, an investment firm, following the rejection of its fourth takeover proposal. The airline's board determined that the latest offer, which valued the company at £6.50 per share, did not adequately reflect its worth and also expressed reservations regarding the proposed ownership structure. In an effort to facilitate a more appealing offer, EasyJet has agreed to provide Castlelake with access to commercial information. This decision comes after Castlelake submitted multiple previous bids, all of which EasyJet's board found to be undervalued. The ongoing negotiations highlight a persistent disagreement over the valuation of EasyJet and the potential implications of a change in ownership. The airline's stance suggests a willingness to engage further if Castlelake can present terms that better align with EasyJet's perceived value and strategic interests.