EasyJet rejects £4.7bn takeover offer from US investment firm
Summary
EasyJet has turned down a £4.74 billion takeover offer from the US investment firm Castlelake. Castlelake wants to buy the airline and says its offer is good for shareholders, but EasyJet called the bid "highly opportunistic" and has rejected three offers this month.Key Facts
- Castlelake, a US investment firm, owns about 2.14% of EasyJet shares.
- Castlelake made three takeover proposals to EasyJet this month, all rejected.
- The latest offer values EasyJet at £4.74 billion and offers 625p per share.
- The offer price is 24% higher than EasyJet's share price last Friday.
- EasyJet's board described the proposals as "highly opportunistic."
- Castlelake says it plans to keep EasyJet as a strong European airline under European control.
- EU rules require EasyJet to be majority-owned by EU citizens.
- Castlelake proposes an ownership plan that complies with EU regulations.
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