Castlelake agrees preliminary deal to acquire easyJet for £5.2-5.5 billion

easyJet has reached a preliminary agreement with US investment firm Castlelake on the financial terms of a potential takeover that values the British low-cost airline at between £5.2 billion and £5.5 billion ($6.0-6.4 billion) Source: euronewses, lavanguardia, elespanol.

The Offer

The board of easyJet said it would be prepared to recommend a formal offer of £6.90 per share in cash if Castlelake announces a firm intention to proceed Source: euronewses. Castlelake has until 3 August 2026 to make a binding bid Source: elconfidencial. The shares jumped over 10% on Monday following the news Source: euronewses.

Background and Reactions

Castlelake has partnered with former easyJet executive Peter Bellew and Mark Breen Source: elespanol. The firm has invested over $24 billion in aviation since 2005 and manages $38 billion in assets Source: elconfidencial. easyJet had previously rejected four lower offers from Castlelake, which the airline had called "opportunistic" Source: lavanguardia. Other potential buyers such as IAG and Wizz Air have also expressed interest but did not reach a deal Source: elespanol.

• The agreement is preliminary and subject to due diligence, with Castlelake needing to secure regulatory approvals and potentially find a European partner due to ownership rules .