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EasyJet open to takeover offer, says timing 'opportunistic' as shares soar
The US investment firm owns a 2.14% stake and said any offer would value EasyJet at at least £3.06 billion.
- On Monday, budget carrier easyJet confirmed it has received no formal approach from U.S. investment firm Castlelake regarding a potential takeover, though it would consider any proposal should one be made.
- EasyJet's board characterized the timing as "highly opportunistic," citing the depressed share price caused by the Middle East situation and its impact on customer confidence and jet fuel prices.
- Castlelake, which holds a 2.14% stake, stated any offer would value the company at a minimum of £3.06 billion, triggering a 12% surge in easyJet shares on Monday.
- Under UK takeover rules, Castlelake has until 5pm on June 26 to make a firm offer or walk away; the firm previously bailed out Scandinavian Airlines and sold shares to Air France-KLM.
- Despite market volatility, easyJet emphasized its strong financial position, remaining focused on its medium-term target to deliver more than £1 billion in pre-tax profits.
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EasyJet labels potential £3B Castlelake takeover bid 'highly opportuni
British budget airline EasyJet (ESYJY) (EJTTF) has labeled a potential £3B takeover bid by U.S. investment firm Castlelake as "highly opportunistic." The airline’s board claims the approach is a clear attempt to capitalize on a stock price that has
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The US investment company Castlelake is considering an offer to buy the British low-cost airline Easyjet. The barriers to a takeover are high, but investors are already hitting the stock market.
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Total News Sources82
Leaning Left9Leaning Right11Center23Last UpdatedBias Distribution53% Center
Bias Distribution
- 53% of the sources are Center
53% Center
L 21%
C 53%
R 26%
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