EasyJet announced its board would evaluate any formal takeover proposal from U.S. investment firm Castlelake.
Castlelake, which owns a 2.14% stake in EasyJet, disclosed it is in the early stages of exploring a bid that would value EasyJet at a minimum of £3.06 billion, equivalent to 403.23 pence per share, representing a 1.3% premium to the previous closing price of 398 pence.
Under UK takeover rules, Castlelake must either lodge a firm offer or withdraw by 26 June 2026.
EasyJet’s share price rose approximately 9% in London trading, reaching a 9.65% increase by 08:37 GMT.
The airline noted that its share price has been temporarily weighed down by the Middle East conflict and regulatory pressures, and warned shareholders to take no action at this stage.
The board described Castlelake’s timing as “highly opportunistic” and highlighted that any transaction would face regulatory, funding and execution hurdles.
