DCC Energy Agrees £5.75 Billion Takeover Deal
The offer includes £6.90 a share and would let existing investors keep stakes as Castlelake backs fleet modernization, analysts said.
- EasyJet's board recommended shareholders accept a £5.5 billion takeover offer from US-based private equity firm Castlelake, valuing the airline at £6.90 per share.
- Takeover interest emerged after EasyJet's share price declined approximately 30% during the year; the airline operates from London Luton and Gatwick airports, employing 19,000 people.
- Barclays analysts argued the bid offers fair value, though founder Stelios Haji-Ioannou, who holds approximately 15% of the company, has not commented as share price rose nearly 10%.
- Castlelake signaled it would maintain EasyJet's current operational strategy and support the airline's fleet modernization program, allowing shareholders to retain their investment under new ownership.
- Commentators noted the transaction reflects a broader pattern of foreign buyers acquiring undervalued British firms, with Castlelake required to submit a formal bid by early August under City rules.
12 Articles
12 Articles
FTSE 100 firm agrees takeover in latest private equity swoop
FTSE 100 energy group DCC has agreed to a £5.75bn takeover by a group of private equity firms in another blow to the London Stock Exchange after a flurry of takeovers this year. US private equity firm KKR and Energy Capital Partners, a subsidiary of London-listed Bridgepoint, said this morning they would pay a total of £65 per share in cash for the firm plus a final dividend of 147p per share. The Dublin headquartered firm’s board had previously…
Evening Standard
DCC Energy to go private after agreeing £5.75 billion takeover
DCC joins an ever-growing list of FTSE companies to have been bought and taken private in recent months.
EasyJet shares jump almost 10% after it agrees £5.5bn takeover bid
EasyJet’s board has recommended shareholders accept a takeover offer from Castlelake, a US-based private equity firm, valuing the airline at £5.5bn. The agreed price of £6.90 per share represents a significant increase from four previous bids that ranged as low as £5.60 per share. The airline’s share price rose nearly 10% following the announcement. Under City takeover rules, Castlelake is required to submit a formal bid by early August. Castlel…
KKR and ECP will withdraw DCC Energy from the London Stock Exchange in a £5.75 billion transaction.
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