EasyJet Rejects Castle Lake’s Latest Take‑over Offer
EasyJet PLC, the British low‑cost carrier listed on the London Stock Exchange, has formally declined a new indicative takeover proposal from the investment firm Castle Lake. The bid, announced on 22 June 2026, offered 625 pence per share—equivalent to a 59 % premium to the 28 May closing price of 504 pence.
Offer Terms and Timing
The offer includes an alternative option allowing shareholders to retain a stake in EasyJet should it remain a private company. Castle Lake has until 26 June to either submit a binding offer or withdraw its interest. According to Castle Lake, the bid is fully financed through a mix of equity and debt, with Goldman Sachs expressing confidence in arranging the required borrowing.
Market Reaction
EasyJet’s share price has ranged between 332.6 pence and 548.8 pence over the past 52 weeks, with a market capitalisation of approximately 4.98 billion GBX and a price‑earnings ratio of 9.35. The most recent rejection follows two prior declined bids at 560 pence and 600 pence per share.
Regulatory Disclosure
In accordance with the Takeover Code, Invesco Ltd. disclosed a significant holding of EasyJet shares on 19 June 2026. The disclosure, filed under Rule 8.3, reported ownership of 25,700,042 ordinary shares (3.39 % of the issued capital) and stated no short positions or derivative contracts related to EasyJet.
Outlook
EasyJet’s board has not indicated a change in strategy regarding potential acquisition offers. The company remains focused on its core low‑cost operations across the United Kingdom and mainland Europe, with ticket sales largely conducted through its website and corporate portal.
