EasyJet reaches 'agreement in principle' over Castlelake takeover bid
British budget airline EasyJet said it has reached an agreement in principle over a takeover bid from investment firm Castlelake. The offer is reported to value the carrier at several billion dollars. Completion of the deal remains subject to conditions.
British budget airline EasyJet announced it has reached an agreement in principle over a takeover bid from investment firm Castlelake. The company said talks had advanced to an advanced stage.
The offer is reported to value the carrier at several billion dollars. Budget airlines have been focused on cost control amid fluctuating fuel prices and intense competition across the sector.
Completion of any deal remains subject to conditions, including shareholder approval and regulatory processes. EasyJet said it would provide further details as the process advances. Whether the parties will reach a final binding agreement has not yet been confirmed.
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