EasyJet’s board says yes — in principle — to Castlelake’s $7+ billion bid

EasyJet’s board says yes — in principle — to Castlelake’s $7+ billion bid

EasyJet’s board of directors has agreed in principle to a takeover offer from US investment firm Castlelake, after first rejecting offers starting at £5.60 per share. The final accepted offer was £6.90 per share, which values the company at £5.5 billion, or a little over $7.3 billion.

Notably, Castlelake previously partnered with Air France-KLM on the acquisition of Scandinavian Airlines, and some wonder if Air France-KLM could get involved in this deal as well. The big question now is why Castlelake is so interested in acquiring EasyJet, and whether this deal actually moves forward.

Gobble's Take: When the offer gets pushed up and up before the board finally nods, that’s the corporate version of “fine, take your shoes off at the door.”
Source: One Mile at a Time

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