EasyJet agrees to £5bn takeover by US investment firm
Summary
EasyJet has agreed in principle to a £5 billion takeover by the US investment firm Castlelake, which would make the airline private. The deal followed several weeks of talks and earlier rejected offers, with EasyJet’s board likely to recommend the new offer to shareholders if it becomes firm.Key Facts
- EasyJet is Britain’s largest low-cost airline.
- Castlelake, a US investment firm, has agreed on a £5 billion takeover deal with EasyJet.
- The agreed price is £6.90 per share, higher than the previous rejected offer of £6.50 per share.
- EasyJet’s board will likely advise shareholders to accept the offer if it becomes official.
- The takeover deal requires a formal offer by 3 August at 5pm.
- Castlelake supports EasyJet’s plans to modernise its fleet with newer, more fuel-efficient planes.
- EasyJet is part of Britain’s FTSE 250 stock market index.
- The deal would make EasyJet a private company instead of publicly traded.
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