EasyJet agrees takeover in £5.7 billion deal
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Would an Easyjet takeover lead to a hike in the cost of flights? What to know about US buy-out
A deal between Easyjet and one of its US suitors could bring about significant changes for customers of the budget airline.
The US buyout giant has topped Castlelake’s offer with a £5.7 billion proposal, turning easyJet from budget airline into premium bidding-war cargo.
July 10 (Reuters) - EasyJet's decision on Friday to back a £5.7 billion ($7.65 billion) proposal by U.S. investment firm Apollo Global against Castlelake's £5.5 billion bid has opened the doors for a possible takeover battle for the British budget airline.
When bleary-eyed easyJet investors looked at their phones shortly after 7am on Friday, there was a surprise twist to the airline’s months-long takeover saga.
EasyJet shares soared nearly 10% Monday morning after the UK budget airline agreed to a $7.3 billion takeover proposal from US private-equity firm Castlelake, as low-cost carriers face a major jet fuel crunch.
Flight U23970, operating from Reykjavík–Keflavík Airport in Iceland to Milan Malpensa Airport in Italy, diverted to Edinburgh Airport
