What Happened
Investment Firm Makes Fifth Bid For Struggling Airline
EasyJet has announced it is prepared to accept a £5.5 billion acquisition offer from US investment firm Castlelake. The deal, which values easyJet’s equity at £5.5 billion, is the fifth bid made by Castlelake for the struggling airline. EasyJet had previously rejected Castlelake’s offers, calling them opportunistic attempts to buy the airline ‘on the cheap’. Castlelake must now formalize its offer by August 3 or walk away under British takeover rules. The acquisition was reported by Reuters.