EasyJet Board Rejects Castlelake's Revised $6.49 Billion Takeover Offer

easyJet’s board rejected Castlelake’s revised fourth takeover offer, but said it would extend talks and provide limited commercial information to give the US investment firm a chance to submit a higher bid. The company said Thursday it received a revised proposal that valued easyJet at £4.93 billion. The board’s decision follows multiple attempts by Castlelake to gain control of the airline, including earlier bids at higher per-share prices, which easyJet previously dismissed as undervaluing the company. Under UK takeover rules, extending the process allows the bidder additional time to respond, though the company remains opposed to the latest terms. The renewed engagement reflects Castlelake’s intent to raise its offer while addressing concerns raised by easyJet’s board.