CastleLake has stepped into the easyJet saga with a 625p per share bid, provoking renewed scrutiny and a push to win over shareholders and Stelios. CastleLake is a private investment firm known for activist-style, opportunistic approaches.
CastleLake has made a third approach to EasyJet, with a 625p per share bid that signals a potential reset in talks. EasyJet has rejected previous offers and argues the proposal is opaque and fails to meet regulatory deliverability. EU ownership rules feature prominently as the bid structure seeks EU-based control while maintaining most economic ownership offshore.
The Guardian, Independent and Scotsman report that Castlelake has flagged a potential takeover of easyJet at no less than 403.23p per share, valuing the airline at about £3.06bn, while easyJet calls the approach highly opportunistic and notes ongoing regulatory and execution challenges.
Castlelake has publicly unveiled a third 625p-a-share offer for easyJet, arguing it offers compelling value. EasyJet has rejected the bid as opportunistic and undervalued, and Castlelake is taking the proposal to shareholders ahead of the Takeover Panel deadline. Several caveats about EU ownership structure and regulatory hurdles accompany the stake expansion.