EasyJet Rejects £4.74 Billion Bid From Castlelake
The U.S. investment firm said the offer is fully funded and backed by former airline executives to meet EU ownership rules.
- On Monday, Minneapolis-based Castlelake publicly disclosed its £4.74 billion takeover bid for EasyJet after the carrier rejected three previous proposals from the U.S. investment firm.
- EasyJet's board rejected the third proposal on Sunday, June 21, 2026, calling it an "opportunistic attempt to acquire EasyJet 'on the cheap'" and not in shareholders' best interests.
- To navigate European ownership rules requiring EU-national majority control, Castlelake partnered with Malaysia Airlines CEO Peter Bellew and other EU investors, arguing the structure aligns with other European carriers.
- Shares in the airline rose in early trading on Monday, while Castlelake faces a June 26 "put-up or shut-up" deadline set by the Takeover Panel to formalize its offer.
- Goodbody Stockbrokers analyst Dudley Shanley said "there will be increased pressure on the board this week," while Castlelake insists its latest bid offers "compelling value" at a 59 percent premium to pre-bid share prices.
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27 Articles
easyJet has rejected a U.S. firm's $6.3 billion takeover bid — so the firm went straight to shareholders
The U.S. investment firm is appealing directly to easyJet shareholders after the airline's board unanimously rejected its latest offer of 625 pence a share
EasyJet's board rejected Castlelake's third acquisition proposal, worth £4.74 billion (US$6.27 billion), but the US investment manager asked the airline's shareholders to support their plan to close the capital of the low-cost British company after the conflict in the Middle East to press their shares. Exclusive material for subscribers. To have full access, access the link to the subject and register.
Watch EasyJet Rejects Castlelake Takeover Bids
EasyJet has rejected three separate offers from Castlelake, prompting the investment firm to take its latest proposal that values the budget carrier at about £4.74 billion ($6.3 billion) directly to shareholders. The UK airline said it rejected the proposal as not being in the best interest of shareholders, accusing Castlelake of trying to buy the company "on the cheap." Bloomberg's Benedikt Kammel reports.
Castlelake sets out $6.3 billion easyJet bid backed by airline execs
Castlelake on Monday disclosed its £4.74 billion ($6.26 billion) takeover bid for easyJet , backed by former Malaysia Airlines CEO Peter Bellew, after the budget carrier rejected three proposals from the U.S. investment firm.
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