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Business
Jun 01, 2026
Analyzed by Llama- 4 Scout 17B 16E Instruct

EasyJet Calls US Takeover Bid 'Highly Opportunistic'

AI Summary
EasyJet has described a potential £3bn takeover bid by US investment group Castlelake as 'highly opportunistic' due to the current depressed share price. The bid values EasyJet at 403p per share, and the company's shares jumped 12% on the news.

The Takeover Bid

EasyJet has called a potential £3bn bid by a US investment group “highly opportunistic”, as shares in the budget airline shot up to their highest level in three months on the takeover interest.

Castlelake's Stake and Offer

The US private credit firm Castlelake said on Friday it was considering a takeover offer for the airline. On Monday, it said it had already bought a 2.14% stake in the business and its offer would value easyJet at least at 403p a share, or about £3bn overall.

EasyJet's Response

However, easyJet hit out at its potential buyer, saying it was “highly opportunistic timing” as its share price was “temporarily depressed due to the current situation in the Middle East and its impact on customer confidence and jet fuel prices”.

Market Reaction and Future Outlook

Shares in easyJet shot up by as much as 12% in early trading on Monday, reaching 444.7p – well above the minimum level of a potential offer by Castlelake, and their highest level since 2 March, valuing the company at about £3.4bn. The jump later eased, with shares up about 10%.

Regulatory Challenges

Under City takeover rules, Castlelake, which is headquartered in Minneapolis and manages $36bn (£27bn) in assets, has until 5pm on 26 June to announce whether intends to make an offer for easyJet. EasyJet said it would “consider any proposal, should one be made” but that there were “considerable regulatory, financial and other execution challenges associated with a potential takeover”.