EasyJet holds out for higher Castlelake bid after rejecting offer, FT reports

EasyJet holds out for higher Castlelake bid after rejecting offer, FT reports centers on easyJet’s response to a renewed takeover push by U.S. investor Castlelake. On June 22, Reuters reported that investors are holding out for an additional at least £600 million (about $794.46 million) beyond Castlelake’s $6.3 billion bid. easyJet rejected the offer, saying it undervalued the airline. The Financial Times reported that engagement would likely require a price of “seven plus,” implying at least £7 per share and valuing easyJet at about £5.3 billion. Castlelake said easyJet’s “unwillingness to engage meaningfully” prompted it to make the bid public, including a partial equity alternative. Castlelake declined further comment.