EasyJet and US private credit firm Castlelake are in talks after a series of takeover attempts. The latest approach values the airline at about £5bn, with EasyJet’s board stating it is minded to recommend a proposal from Castlelake and describing earlier bids as “highly opportunistic” and an attempt to buy the company “on the cheap.” Reporting across outlets indicates EasyJet previously rejected Castlelake bids around £4.7bn (625p per share) and later a higher offer referenced at 6.25 per share. Despite the rejections, the companies now announce an agreement in principle on a deal of roughly £5bn, which would take EasyJet private. EasyJet also asks for an extension to the deadline to complete the transaction formally, following weeks of negotiations and multiple rejected offers. One outlet adds that some of EasyJet’s top shareholders continue to press for a higher offer level, with support contingent on Castlelake raising its price further (including references to targets above 625p per share, such as £7 per share). Shares react positively after the board’s stance on the latest proposal is reported.
EasyJet reaches in-principle agreement with Castlelake amid rejected takeover offers
EasyJet and US private credit firm Castlelake are in talks after a series of takeover attempts. The latest approach values the airline at about £5bn, with EasyJet’s board stating it is minded to recom...
- EasyJet and Castlelake reach an in-principle agreement for a takeover valued at about £5bn.
- EasyJet previously rejects Castlelake takeover offers, describing them as opportunistic and aimed at buying the airline cheaply.
- The latest proposal is discussed in the context of offers around 625p per share, with later references to 6.25 per share.
- EasyJet requests an extension of the deadline to complete the takeover formally.
- Some major EasyJet shareholders support a higher price, with references to a requirement for offers above the earlier 625p level.
A bidding war has broken out for budget carrier easyJet after Apollo and Castlelake have both submitted takeover offers.
2 months agoLow-cost airline says offer ‘delivers a superior outcome for easyJet shareholders’
2 months agoEasyJet Plc received a fresh offer from private equity firm Apollo Global Management for 715 pence a share that beats a rival proposal from Castlelake LP, a surprise twist that sets up a possible bidding war between the two US investment funds.
2 months agoEuropean low-cost pioneer is set to be bought by private credit group Castlelake for £5.5bn three decades after its launch
2 months agoeasyJet's board has finally agreed to a $7.3 billion takeover bid from US investment firm Castlelake, ending weeks of tense negotiations.
3 months agoEasyJet shares jump almost 10% after it agrees £5.5bn takeover bid The GuardianEasyJet agrees 'in principle' to £5.2bn takeover deal BBCEasyJet reaches outline agreement on £5.5bn takeover by Castlelake Financial TimesThis American Investor Is Betting Big on a European Budget Airline WSJEasyJet agrees £5.5bn takeover offer from US investment firm The Times
3 months agoAirline’s board to recommend offer of £6.90 a share in deal analysts say shows UK firms are being bought on the cheapShares in easyJet surged nearly 10% after the airline agreed to a £5.5bn takeover at the fifth attempt, but analysts said that it showed UK firms were being bought on the cheap.The low-cost carrier’s board will recommend shareholders accept an offer price of £6.90 a share from Castlelake, a US private equity firm, after rejecting four previous bids of as little as £5.60 per share. EasyJet shares closed at 610p. Continue reading...
3 months agoEasyJet shares soared 10% Monday morning after the UK budget airline agreed to a $7.3 billion takeover proposal from US private-equity firm Castlelake, as low-cost carriers face a devastating jet fuel crunch.
3 months agoCastlelake cannot take full control of EasyJet because U.K. and EU ownership rules require majority regional ownership, meaning it needs a partner
3 months agoEasyJet bosses have just reached an agreement with US investment firm Castlelake on a takeover worth around £5.2 billion. The […]
3 months agoDeal faces uncertainty over EU airline ownership requirements
3 months agoThe budget airline said it would be ‘minded’ to accept Castlelake’s higher approach worth £6.90 a share.
3 months agoThe budget airline said it has reached ‘an agreement in principle’ with US investment firm Castlelake.
3 months agoEasyJet shares surged in early dealmaking Monday after it agreed in principle to takeover bid from Castlelake.
3 months agoThe budget airline said it would be ‘minded’ to accept Castlelake’s higher approach worth £6.90 a share.
3 months agoEasyJet shares soar 10% as budget airline agrees $7.3 billion Castlelake takeover CNBCEasyJet reaches 'agreement in principle' over potential takeover BBCEasyJet suggests it will agree to £5.5bn takeover by US investment firm The GuardianEasyJet succumbs to foreign bidder after agreeing £5bn deal The TelegraphCastlelake Wins EasyJet Over After Fifth Takeover Bid Bloomberg.com
3 months agoEasyJet agreed in principle to a takeover offer of more than £5 billion from Castlelake, which swooped in as the UK budget carrier was reeling from soaring jet fuel prices and suppressed demand after the Iran war. Bloomberg's Danny Lee reports. (Source: Bloomberg)
3 months agoeasyJet agrees in principle on Castlelake's sweetened £6.90 per share bid ReutersEasyJet reaches 'agreement in principle' over potential takeover BBCEasyJet suggests it will agree to £5.5bn takeover by US investment firm The GuardianEasyJet reaches outline agreement on £5bn takeover by Castlelake Financial TimesEasyJet succumbs to foreign bidder after agreeing £5bn deal The Telegraph
3 months agoUK budget airline easyJet ready to accept $7.3 billion takeover bid from Castlelake CNBCEasyJet reaches 'agreement in principle' over potential takeover BBCEasyJet suggests it will agree to £5.5bn takeover by US investment firm The GuardianEasyJet succumbs to foreign bidder after agreeing £5bn deal The TelegraphThe £5bn dogfight: why private equity wants easyJet The Times
3 months agoThe low-cost airline had previously rejected four takeover offers from US investment firm Castlelake.
3 months agoEasyJet reaches 'agreement in principle' over potential takeover BBCEasyJet agrees to £5bn takeover by US investment firm The GuardianEasyJet set to succumb to foreign buyer after agreeing £5bn deal The TelegraphEasyJet Agrees to Castlelake’s £5.2 Billion Takeover Offer Bloomberg.comeasyJet agrees in principle on Castlelake's sweetened £6.90 per share bid Reuters
3 months agoAgreement in principle with Castlelake follows several rejected offers and means UK’s biggest low-cost carrier will be taken private EasyJet has agreed a £5bn takeover by US investment firm Castlelake that will see Britain’s biggest low-cost airline taken private.The companies announced an agreement in principle on Sunday evening in a statement to the stock market, and requested an extension to a deadline to complete the deal formally. The agreement came after weeks of negotiations and several rejected offers. Continue reading...
3 months agoUK airline’s board says it is minded to recommend proposal by US private credit group
3 months agoEasyJet reaches outline agreement on £5.5bn takeover by Castlelake Financial TimesEasyJet reaches 'agreement in principle' over potential takeover BBCUK budget airline easyJet ready to accept $7.3 billion takeover bid from Castlelake CNBCEasyJet suggests it will agree to £5.5bn takeover by US investment firm The GuardianEasyJet succumbs to foreign bidder after agreeing £5bn deal The Telegraph
3 months agoEasyJet Agrees to Castlelake’s £5.2 Billion Takeover Offer Bloomberg.comEasyJet reaches 'agreement in principle' over takeover bid BBCEasyJet agrees to £5bn takeover by US investment firm The GuardianThe £5bn dogfight: why private equity wants easyJet The TimesEasyJet reaches outline agreement on £5bn takeover by Castlelake Financial Times
3 months agoEasyJet Plc has agreed in principle to a fifth takeover offer from Castlelake LP for £6.90 per share in cash, the companies said in a statement Sunday.
3 months agoThe Minneapolis-based investment firm already holds about 2.14% of easyJet's shares and says any offer would be priced at no less than 403.23 pence per share
3 months agoEasyJet’s top shareholders hold out for £5.3bn bid from Castlelake Financial TimeseasyJet (Announcement): further takeover proposal rejected Hargreaves LansdownEasyJet rejects takeover offer from US investment firm Castlelake BBCEasyJet lets raider take the controls The TimesWhy easyJet may be heading for a break-up The Economist
3 months agoMany large investors agree that private credit group’s offer must reach £7 per share
3 months agoShareholders call for private credit group’s £4.7bn approach to be increased to at least £7-a-share
3 months agoCastlelake's latest offer was its third attempt to acquire the airline.
3 months agoCompany’s third bid for the British carrier expected to ramp up pressure on the board
3 months agoThe airline describes the latest bid approach from Castlelake as "highly opportunistic".
3 months agoThe airline has rejected a third approach from US investment fund Castlelake worth 625p a share.
3 months agoThe airline has rejected a third approach from US investment fund Castlelake worth 625p a share.
3 months agoThe airline describes the latest bid approach from Castlelake as "highly opportunistic".
3 months agoThe UK airliner branded Castlelake’s initial interest as ‘highly opportunistic’ in its first response
3 months agoUS private credit group goes public with latest 625p-a-share takeover offer after airline’s board refuses to engage
3 months ago
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