EasyJet to Go Private in £5 Billion Buyout by US Investment Firm Castlelake
British low-cost airline EasyJet announced on Sunday that it has reached a preliminary agreement to be acquired by American investment firm Castlelake in a deal valued at approximately £5 billion. If completed, EasyJet will become a private company and will be delisted from the London Stock Exchange. Castlelake has offered £6.90 per share, an improved bid compared to a previous £6.50 offer rejected by EasyJet ten days earlier for undervaluing the company.
EasyJet's board stated it is likely to recommend the acquisition to shareholders if a binding offer is submitted under the agreed terms. Both parties have requested an extension to the deadline for completing the transaction. Castlelake expressed great respect for EasyJet and its employees and intends to support the airline's growth and transformation into a stronger, more resilient European carrier.
The investment firm also supports EasyJet's plan to acquire new aircraft to renew its fleet, reduce fuel consumption, and enhance operational efficiency. Under UK takeover rules, Castlelake must submit a binding offer or withdraw by August 3.
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