Overview
- In a joint statement on Sunday easyJet said it had accepted Castlelake’s fifth offer in principle at £6.90 a share, valuing the airline at roughly £5.2 billion.
- Castlelake must submit a binding offer by early August, with reports variously citing a deadline in the first week of August.
- EU rules require majority control by EU nationals for carriers, so Castlelake proposes a 49% stake with EU partners Peter Bellew and Mark Breen to meet ownership tests.
- The market jumped on the news, sending easyJet shares to their highest level since 2022 as investors priced in the takeover premium.
- Significant obstacles remain including antitrust and regulatory reviews, possible rival bids, and the risk that the buyer could sell aircraft or airport slots which would change routes and jobs.