EasyJet rejects fourth takeover offer
Summary
EasyJet has rejected a fourth offer from US investment firm Castlelake to buy the airline for £4.93 billion. EasyJet’s board says the bid undervalues the company and has doubts about Castlelake’s ability to complete the deal.Key Facts
- Castlelake made a fourth takeover offer of £4.93 billion, or £6.50 per share.
- Previous offers were £5.60, £6, and £6.25 per share.
- EasyJet’s board says the latest offer still undervalues the company and questions whether Castlelake can deliver the deal.
- EasyJet’s share price has dropped about 30% over the past year, affected by worries over the war in Iran.
- Castlelake manages about $36 billion (£27.3 billion) in assets.
- Under the deal, Castlelake and co-investors would own 49% of EasyJet, with the remaining 51% owned by European Union investors.
- EasyJet wants Castlelake to provide clear promises about ownership and their ability to complete the purchase.
- The deadline for Castlelake to make a firm offer is 17:00 BST on 5 July.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.