easyJet agrees to £5.5bn takeover bid from US investment firm Castlelake

• easyJet has reached an agreement in principle with US investment firm Castlelake on a takeover bid.
• The offer values the airline at £5.5 billion or £6.90 per share.
• This is Castlelake's fifth bid for easyJet.
• The easyJet board is minded to recommend the offer to shareholders.
• Castlelake has until August 3, 2026, to make a firm offer.

British budget airline easyJet has reached an agreement in principle with U.S. investment firm Castlelake on a revised takeover bid of £6.90 per share, valuing the company at approximately £5.5 billion. This development follows a month of successively higher proposals from Castlelake and negotiations between the two companies. Castlelake's latest offer is its fifth proposal, following previous rejections by easyJet. The airline's board stated it would be 'minded to recommend' the offer to shareholders if Castlelake announces a firm intention to make an offer and remaining terms are agreed. Castlelake has until August 3, 2026, to either announce a firm intention to make an offer or confirm it does not intend to proceed. The potential takeover comes at a challenging time for the aviation industry, which is facing higher jet fuel costs and margin pressure. Castlelake has expressed respect for easyJet and its employees, intending to support its future growth and modernization programs.