EasyJet rejects latest approach from Castlelake, Chemring secures two new US defence contracts

EasyJet has rejected the latest approach from US private equity suitor Castlelake but agreed to keep talks going, raising the pressure on Castlelake to improve its terms. EasyJet said it has rebuffed four proposals so far and flagged “significant questions” about deliverability, while noting it extended access to limited commercial information. Castlelake now has until 1700 BST on 5 July to submit a firm offer or withdraw. Separately, Balfour Beatty won a two-year £325m contract to deliver the Netherton Hub in Aberdeenshire, Scotland, aimed at strengthening the UK national grid. Chemring also secured two US defence contracts worth $345m total, tied to restarting sustained manufacturing at its Alloy Surfaces Company facility in Philadelphia under the Defense Production Act.