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Castlelake announced a third, public takeover proposal for easyJet valued at just over £4.7bn after the airline’s board rejected two earlier offers.Castlelake’s third public £4.7bn takeover proposal for easyJetThe investment firm said the all‑cash offer of 625p a share is intended to give shareholders a clear basis for evaluation before the statutory deadline on Friday. Castlelake highlighted the lack of meaningful engagement from the board and positioned the public bid as a way to force a shareholder‑driven decision.Valuation and share‑price reaction to the £4.7bn bidOffer price: 625p per share, valuing easyJet at just over £4.7bn.Previous offers: 560p and 600p per share.Initial approach earlier in the month: 403p per share (£3bn valuation).Share‑price movement: after takeover rumours, easyJet’s stock rose 36% over the last month and was up 2% to 515p on the Monday of the announcement.Regulatory hurdles and EU ownership requirements for the dealEU law mandates that European airlines be majority‑owned by EU nationals. To comply, Castlelake partnered with two EU‑based investors:Peter Bellew – former COO of Riyadh Air, easyJet and Ryanair, now running Dooks Capital (Saudi‑based AI aviation advisory).Mark Breen – CEO of Dublin‑based Oneiros Aerospace, with prior experience at Oman Air.The EU partner will hold a controlling share in the acquisition structure, ensuring the deal meets the ownership rule that remains in force post‑Brexit.Outlook for the bid and potential consequences for easyJet and the low‑cost marketCastlelake has until 5 pm on 26 June to confirm whether it will proceed with a formal offer. If accepted, the transaction would give the US firm a foothold in Europe’s low‑cost sector, potentially reshaping competition among the continent’s three largest budget carriers – Ryanair, easyJet and Wizz Air. A rejection would likely keep the airline’s share price volatile and may reopen interest from other suitors such as MSC or rival airlines.