Castlelake Publicizes $6.3B Takeover Bid for EasyJet After Repeated Rejections
U.S. investment firm Castlelake LP has publicly disclosed its £4.74 billion ($6.3 billion) takeover bid for British budget airline easyJet at 625 pence per share, after easyJet’s board rejected three previous offers. Castlelake, which holds a 2.14% stake, is appealing directly to shareholders ahead of a U.K. Takeover Panel deadline. EasyJet called the bid 'highly opportunistic' and undervaluing the company, citing its turnaround progress and fleet modernization. Castlelake structured the deal with EU-majority ownership to comply with regulations, but easyJet raised concerns over the deal's leverage and structure.
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EasyJet Agrees to £5.5 Billion Takeover by US Private Equity Firm Castlelake
British budget airline easyJet has agreed in principle to be acquired by US private equity firm Castlelake for approximately £5.5 billion, or £6.90 per share in cash, after rejecting four previous offers as 'highly opportunistic'. The deal, which still faces regulatory hurdles regarding EU airline ownership rules, would allow current shareholders to remain invested. The acquisition has sparked concern among City analysts, with Kathleen Brooks of XTB calling it 'symbolic' of a 'massive For Sale sign above UK corporates' due to persistently cheap share prices. Minneapolis-based Castlelake, an experienced aviation financier, promises business as usual at the Luton-based carrier, which is reportedly on track to make £1 billion in annual profits. The outcome remains uncertain as easyJet's founder Stelios Haji-Ioannou, who owns 15% of the company, has not yet indicated his position. European rival airlines saw their shares rise on the news, relieved that easyJet is not being acquired by a more expansionist competitor.
TheWeek feedEasyJet agrees to £5.5 billion takeover by US private equity firm Castlelake
British budget airline easyJet has agreed in principle to be acquired by US private equity firm Castlelake for approximately £5.5 billion, or £6.90 per share in cash, after rejecting four previous offers as 'highly opportunistic'. The deal, which still faces regulatory hurdles regarding EU airline ownership rules, would allow current shareholders to remain invested rather than being forced to sell upon delisting. The acquisition has sparked concern among City analysts, with Kathleen Brooks of XTB calling it 'symbolic' of a 'massive For Sale sign' above UK corporates due to persistently low share valuations. Minneapolis-based Castlelake, an experienced aviation financier, has promised business as usual at the Luton-based carrier, which is reportedly on track to make £1 billion in annual profits. The deal's outcome remains uncertain pending the view of easyJet's founder Stelios Haji-Ioannou, who owns 15% of the company. European rival airlines saw their shares rise on the news, relieved that easyJet's destination remains largely the same under Castlelake rather than falling to a more expansionist buyer.
TheWeek feedEasyJet Agrees to £5.5 Billion Takeover by US Private Equity Firm Castlelake
British budget airline easyJet has agreed in principle to be acquired by US private equity firm Castlelake for approximately £5.5 billion, or £6.90 per share in cash, after rejecting four previous offers as 'highly opportunistic'. The deal, which still faces regulatory hurdles regarding EU ownership rules, would see easyJet delisted but allow current shareholders to remain invested. The acquisition has sparked concern among some City analysts, who view it as symbolic of a broader trend of undervalued UK companies being targeted by foreign buyers. Minneapolis-based Castlelake, an experienced aviation financier, has promised business as usual for the Luton-based carrier, which is reportedly on track to make £1 billion in annual profits. The reaction from easyJet's founder and 15% owner Stelios Haji-Ioannou remains uncertain, but European rival airlines saw their shares rise on relief that easyJet was not being acquired by a more aggressive competitor.
TheWeek feedEasyJet swaps Castlelake for Apollo in $7.7B bidding war
Apollo Global Management has outbid Castlelake in a bidding war for UK-based airline EasyJet, offering £7.15 per share, valuing the carrier at approximately £5.7 billion ($7.7 billion). This surpasses Castlelake's £6.90 per share bid, which EasyJet's board had previously agreed to recommend. EasyJet rejected four earlier Castlelake bids as 'highly opportunistic' and now says it is 'minded to recommend' Apollo's offer. However, Apollo faces a significant regulatory hurdle as EU regulations require majority European ownership for carriers based in the bloc, potentially necessitating a European partner. The bidding war exemplifies growing US appetite for undervalued London-listed assets, with UK take-privates reaching £12.5 billion in early 2026. Apollo has until August 7 to announce its intention to make an offer, while EasyJet and Castlelake extended their deadline to August 3.
Yahoo FinanceApollo Gatecrashes Castlelake's Bid for Easyjet with £5.7bn Offer
Apollo Global Management has made a £5.7bn offer for Easyjet, trumping a previous £5.2bn bid from Castlelake and setting up a potential bidding war for the low-cost carrier. Easyjet's shares had fallen by more than a third due to the Iran war, which sent jet fuel prices soaring. The airline's board stated Apollo's offer represents a superior outcome for shareholders and is minded to accept it. A major hurdle for Apollo is EU ownership rules requiring European airlines to be majority owned by Europeans. Castlelake had lined up European aviation veterans to satisfy this condition, and Apollo may pursue a similar route. The battle highlights the attractiveness of undervalued London-listed companies to American investors.
City AMApollo Gatecrashes Castlelake's Easyjet Bid with £5.7bn Offer
Private equity giant Apollo has made a £5.7bn offer for Easyjet, trumping an earlier £5.2bn deal with Castlelake. The bid comes after Easyjet's shares fell by more than a third due to the Iran war driving up jet fuel costs. Apollo's offer of 715p per share exceeds the 700p threshold some investors sought. The Easyjet board said it is 'minded to accept' the superior offer. A key hurdle is EU ownership rules requiring European majority control; Castlelake had lined up European nationals for a shell company, while Apollo has not yet detailed its compliance plan. The battle could spark a bidding war for the low-cost carrier, which has long been seen as a takeover target.
City AMApollo Gatecrashes Castlelake's Easyjet Bid with £5.7bn Offer
Apollo Global Management has made a £5.7bn offer for Easyjet, trumping a prior £5.2bn bid from Castlelake and setting up a potential bidding war for the low-cost carrier. Easyjet's shares had fallen by more than a third due to the Iran war and soaring jet fuel costs, making the airline an attractive takeover target. The Easyjet board stated Apollo's offer represents a superior outcome for shareholders and is minded to accept it if formally submitted. A key hurdle is EU ownership rules requiring European majority control; Castlelake had planned to use European nationals as owners of a shell company, and Apollo may pursue a similar strategy. The battle highlights the trend of American investors acquiring London-listed companies.
City AMEasyJet considers $7.7 billion Apollo takeover bid amid Castlelake rivalry
EasyJet announced on Friday that it is reviewing a $7.7 billion takeover offer from Apollo Global Management, following a previous $7.3 billion bid from private equity firm Castlelake. Apollo's cash offer values easyJet at £5.7 billion ($7.66 billion), representing an 81% premium to the airline's closing share price on May 28. As an alternative to cash, Apollo is offering a Stub Equity Alternative allowing shareholders to roll their holdings into the investment vehicle, with voting rights maintained. EasyJet's shares surged earlier in the week after accepting Castlelake's bid, and the new higher offer has sparked a bidding war for the budget carrier.
US Top News and AnalysisEasyjet Agrees to £5.7bn Apollo Takeover, Topping Castlelake Bid
US investment giant Apollo has agreed to acquire budget airline Easyjet for £5.7 billion in an all-cash deal, valuing the carrier at 714 pence per share. The offer surpasses a previous 690p bid from alternative asset manager Castlelake, which Easyjet's board had initially been poised to accept. The deal represents an 80% premium over Easyjet's share price before takeover interest emerged last month. Easyjet will delist from the London Stock Exchange, joining a trend of major FTSE 100 firms leaving the bourse. Apollo, one of the world's largest asset managers, already has aviation holdings including Atlas Air and Modern Aviation. The takeover follows a period of valuation decline for Easyjet due to rising jet fuel costs linked to the Iran war. Easyjet shares rose over 14% on the news.
City AMApollo outbids Castlelake to acquire Easyjet for £5.7bn
Apollo Global Management has agreed to acquire budget airline Easyjet for £5.7 billion in an all-cash deal, outbidding rival asset manager Castlelake. Easyjet announced on Friday that it accepted Apollo's offer of 714 pence per share, which represents an 80% premium over the airline's closing share price and surpasses Castlelake's earlier bid of 690p per share. The Easyjet board stated that Apollo's bid delivers a superior outcome for shareholders and offers strategic alignment and long-term stewardship. The deal sets the stage for a potential bidding war between the two American investors, as Castlelake's interest in Easyjet had emerged only last month.
City AMEasyjet Agrees to £5.7bn Apollo Takeover, Outbidding Castlelake
Apollo Global Management has agreed to acquire budget airline Easyjet for £5.7 billion in an all-cash deal, topping a previous bid from alternative asset manager Castlelake. The offer values Easyjet at 714 pence per share, an 80% premium over the airline's share price before takeover interest emerged. Easyjet's board stated the Apollo bid delivers a superior outcome for shareholders and is no longer recommending the Castlelake proposal. The deal will see Easyjet delist from the London Stock Exchange, joining a trend of major FTSE 100 firms leaving the bourse. Apollo, one of the world's largest asset managers, already has aviation investments including Atlas Air and a loan to Virgin Atlantic. Easyjet shares rose over 14% on the news. The airline's valuation had previously fallen due to the Iran war and rising jet fuel costs.
City AMEasyJet bought by US private equity giant Apollo for £5.7bn
EasyJet has agreed to a £5.7bn takeover by US private equity giant Apollo, which offered 715p per share, outbidding a previous 690p-per-share agreement with Castlelake valued at £5.2bn. The airline's board said it is no longer recommending the Castlelake proposal. The takeover follows a 25% share price slump triggered by the Iran war, which drove up oil and jet fuel costs. Apollo's offer represents an 81% premium on easyJet's pre-bid closing price. Founder Sir Stelios Haji-Ioannou and his family, holding over 15% of shares, would net a £1.2bn windfall if approved. Apollo, managing over $1 trillion in assets, has until August 7 to make a firm offer. The deal is seen as another blow to the London Stock Exchange amid a wave of foreign takeovers.
Yahoo FinanceeasyJet Agrees in Principle to Castlelake Takeover at £5.2 Billion
easyJet has agreed in principle to a £5.2 billion takeover proposal from US investment firm Castlelake, at £6.90 per share, after rejecting four earlier bids. The easyJet board said it would recommend the offer if a formal bid is made. However, the deal faces significant hurdles: EU ownership rules require airlines operating within the bloc to be majority-owned by EU citizens. Castlelake has proposed a structure where it would hold 49%, while two EU aviation executives, Peter Bellew and Mark Breen, would control a majority EU-based vehicle. Castlelake has until August 3 to announce a firm intention to bid under UK takeover rules. easyJet shares rose but traded below the offer price, indicating investor skepticism about deal closure. The airline has a strong brand, over 350 aircraft, valuable slots at congested airports like Gatwick and Paris Charles de Gaulle, and a growing holidays business.
Yahoo FinanceEasyJet agrees in principle to Castlelake's $7.3 billion takeover bid
EasyJet has agreed in principle to a £5.5 billion ($7.3 billion) cash takeover offer from U.S. investment firm Castlelake, after rejecting four previous bids. The offer of £6.90 per share represents a 73% premium over the stock price before Castlelake's interest became public. Shares rose about 10.5% on Monday but traded below the offer price, indicating market doubts. The deal faces regulatory complications due to an EU rule requiring majority ownership by EU citizens for airlines operating within the bloc. Castlelake has structured the acquisition with a 49% stake, with 51% held by EU nationals. The deadline for Castlelake to commit or withdraw is August 3. EasyJet has been struggling with rising fuel costs and posted a pretax loss in its first-half results.
Yahoo FinanceEasyJet Agrees to £5.2bn Takeover by US-Led Consortium Castlelake
EasyJet has agreed to a £5.2bn takeover by a foreign-backed consortium led by US financial institution Castlelake, after weeks of negotiations. The deal values the low-cost airline at 690p per share, a bump from Castlelake's previous 650p bid. Under the terms, Castlelake will hold 49% of the company, while Brookfield Asset Management and Irish executives Peter Bellew and Mark Breen will hold 51%, a structure designed to comply with EU ownership rules requiring majority EU control. The airline's board, led by Sir Stephen Hester, had previously rejected lower offers. The deal is subject to completion by August 3. EasyJet shares surged 11.4% on the news. The airline had become an attractive target after its share price fell below 340p following the outbreak of the Iran war in late February, which also drove up jet fuel costs.
Yahoo FinanceEasyJet Shares Surge After Airline Accepts $7 Billion Takeover Bid from Castlelake
EasyJet shares surged on Monday after the British budget airline announced it had accepted in principle a renewed $7 billion takeover bid from U.S. investment firm Castlelake. The offer of 6.90 pounds per share values easyJet at approximately 5.23 billion pounds ($6.98 billion) on an equity basis, or 5.52 billion pounds on a fully diluted basis. The bid represents a 24% premium over Friday's closing price and a 73% increase from May 29, when Castlelake first disclosed its takeover interest. Castlelake had been courting easyJet with a series of bids in recent weeks, and the accepted offer paves the way for a full acquisition of the airline. The news drove a sharp rise in easyJet's stock price on the day of the announcement.
Yahoo FinanceEasyJet shares jump 10% after airline backs $7.3 billion Castlelake takeover
EasyJet shares surged 10% in early trading on Monday after the British budget airline agreed in principle to a £5.5 billion ($7.34 billion) takeover proposal from U.S. investment firm Castlelake. The revised bid of £6.90 per share represents a nearly 24% premium to Friday's close. The potential take-private deal comes amid challenging times for airlines due to higher fuel prices and margin pressure linked to the Iran conflict. JPMorgan analysts raised concerns about meeting EU ownership requirements, as EU regulations require airlines operating in the bloc to be majority owned and controlled by EU nationals. Castlelake has agreed to a 'best endeavours' commitment to obtain regulatory clearances and plans to own 49% of the bidding vehicle, with the remainder held by two EU nationals. EasyJet had rejected four previous proposals. Castlelake must formalize its offer by August 3 or walk away under British takeover rules.
Yahoo FinanceEasyJet shares jump 10% after airline backs $7.3 billion Castlelake takeover
EasyJet shares surged 10% in early trading on Monday after the British budget airline agreed in principle to a £5.5 billion ($7.34 billion) takeover proposal from U.S. investment firm Castlelake. The revised bid of £6.90 per share represents a nearly 24% premium to Friday's closing price. The potential take-private deal comes amid challenging conditions for airlines due to higher fuel prices and margin pressure linked to the Iran conflict. JPMorgan analysts raised concerns about meeting EU ownership requirements, as EU regulations require airlines operating in the bloc to be majority owned and controlled by EU nationals. Castlelake has proposed owning 49% of the bidding vehicle, with the remainder held by two EU nationals. EasyJet had rejected four previous proposals. Castlelake must formalize its offer by August 3 or walk away under British takeover rules.
Yahoo FinanceEasyJet shares surge 10% on $7.3 billion Castlelake takeover agreement
EasyJet shares rose 10.5% on Monday after the UK budget airline agreed in principle to a £5.5 billion ($7.3 billion) takeover by US private equity firm Castlelake. The improved bid, Castlelake's fifth attempt, comes after EasyJet rejected a £4.93 billion proposal last month. The offer represents $6.90 per share, with Castlelake given until August 3 to finalize or withdraw. The deal arrives amid industry stress from jet fuel price spikes linked to the Middle East conflict, which the International Air Transport Association warned could halve global airline profits this year. EasyJet recently reported a £552 million pre-tax loss for the six months ending March 31, despite 12% revenue growth to £4 billion. Castlelake expressed support for EasyJet's fleet modernization program.
US Top News and AnalysiseasyJet Agrees to Accept US$7.3 Billion Takeover Bid from Castlelake
British budget airline easyJet has agreed in principle to accept a US$7.3 billion takeover bid from Castlelake, a private investment firm. The announcement was made on Monday, July 6, 2026. The airline has struggled to recover its financial performance and market position since the Covid-19 pandemic, which severely impacted global travel demand. This acquisition marks a significant shift in the European low-cost carrier landscape, as easyJet is one of the largest budget airlines in the region. The deal is expected to involve regulatory approvals and shareholder considerations. The publication is from The Business Times Singapore, reporting on the development as of early July 2026.
The Business Times