Castlelake Reveals Latest EasyJet Acquisition Attempt
US investment firm Castlelake has made public its most recent proposal to acquire the budget airline easyJet, an offer valued at £4.7 billion. This disclosure comes after easyJet's board rejected the bid, marking the third such refusal.
Details of the Offer and Rejection
On Monday, Castlelake confirmed that an all-cash offer of 625 pence per share had been presented to easyJet's board on Sunday. This valuation places the airline at just over £4.7 billion. However, the proposal was subsequently turned down. This latest offer follows two previous bids of 560 pence and 600 pence per share, both of which were also rejected by easyJet's leadership.
The carrier described the offer as 'cheap', indicating a significant difference in perceived value between the potential acquirer and the airline's board.
By making the offer public, Castlelake appears to be seeking evaluation from easyJet's shareholders, despite the board's consistent rejections of its proposals.
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