EasyJet Rejects Enhanced $6.5 Billion Takeover Bid from US Investor

Deep News06-25

British low-cost carrier EasyJet has turned down a fourth and increased takeover offer from US investment firm Castlelake, valued at approximately 4.9 billion pounds ($6.5 billion). However, the airline indicated it would grant the suitor limited access to commercial data, aiming to solicit a more attractive proposal.

The board of EasyJet stated that allowing Castlelake to review limited commercial information, as requested in its latest proposal, could potentially lead to a more compelling offer being presented.

Castlelake's latest bid of 6.50 pounds per share represents an increase over its previous offer of 6.25 pounds per share.

Under UK takeover regulations, the deadline for Castlelake to submit a formal offer has been extended to July 5th.

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