EasyJet has confirmed that it has reached an in-principle agreement on revised financial terms with US private credit group Castlelake regarding a potential takeover. The proposal, which remains non-binding, would value the airline at more than £5 billion and is subject to the submission of a firm offer and further agreement on final terms. The company stated, “Having carefully reviewed it with its advisers, the board of easyJet concluded that the financial terms of the fifth proposal are at a value that the board would be minded to recommend to EasyJet shareholders.”
Reports indicate that Castlelake has recently revised its offer for easyJet to around £6.90 per share, representing an increase on earlier proposals reported at £6.50 and £6.25. The airline is also said to have previously received and rejected multiple non-binding approaches, while continuing limited engagement alongside an extended “put-up or shut-up” deadline.
This is a developing story, and we will update with more information when it is available.
