easyJet says it has not received an approach or takeover proposal from US private credit firm Castlelake. The Luton-based budget airline describes any potential bid described by Castlelake as “highly opportunistic,” while stating it has not held discussions with the firm.
Casteklake, which has also told markets it is considering a takeover offer for easyJet, says it already bought a 2.14% stake in the airline. Reporting on the potential terms, Castlelake’s suggested valuation includes an offer of at least 403p per share, which would value easyJet at around £3bn.
Shares in easyJet rise after the news of Castlelake’s consideration of an offer, with coverage noting the stock hits its highest level in about three months. Other commentary highlights questions investors may have about how realistic any offer is, including valuation and timing, as well as how existing ownership and related rules could affect any possible bid. Overall, easyJet’s position is that no formal proposal has been presented, while Castlelake signals intent to review options for a potential transaction.
