economy
EasyJet opens talks with Castlelake after rejecting £4.9bn takeover offer
British carrier says it hopes to receive ‘more attractive proposal that better reflects’ its value
TL;DR
- EasyJet rejected Castlelake's fourth takeover offer of £4.9bn (650p a share).
- The airline has opened talks and granted limited access to commercial information to Castlelake.
- EasyJet cited concerns about the ownership structure and deliverability of Castlelake's offer.
- The deadline for Castlelake to improve its offer has been extended to July 5th.
- Castlelake has added Brookfield Asset Management to its bidding vehicle, with EU nationals Peter Bellew and Mark Breen holding a majority stake in the vehicle.
- Investors are optimistic about a potentially sweetened deal, leading to a rise in easyJet's share price.