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Sun, 05 Jul 2026

Sun, 05 Jul 2026 EasyJet reaches 'agreement in principle' over potential takeover

The low-cost airline had previously rejected four takeover offers from US investment firm Castlelake.
The proposal, which values EasyJet's shares at £6.90 each, is subject to regulatory clearances and approvals. Castlelake will need to meet EU rules that require the airline to be 51% owned by a European company. EasyJet's board said they would recommend the offer to shareholders if it were made firm. The proposed takeover comes after four previous offers from Castlelake, which EasyJet had rejected as undervalued. The deal is contingent on Castlelake securing regulatory approval, with the investment firm facing a deadline of 3 August to either announce a firm intention to make an offer or withdraw its bid. EasyJet's share price closed at £5.58 on Friday, down from over £6 per share in June before news of the initial takeover bid emerged. The airline employs over 19,000 people and operates routes across Europe. Castlelake has assets worth $36 billion (around £27.3 billion) under management. EasyJet's board expressed confidence that Castlelake would comply with EU ownership rules to facilitate a potential deal. The proposed takeover is seen as a lifeline for EasyJet amid its "temporarily depressed" share price, partly due to the impact of the Iran-US conflict on the travel sector.