Jun. 22 at 8:11 PM
EasyJet and its investors are seeking at least an additional £600 million (~
$794 million) from U.S. investment firm Castlelake, according to the Financial Times, citing major shareholders and people familiar with the matter. The push comes after easyJet rejected a
$6.3 billion takeover bid, arguing it undervalued the airline.
Castlelake made its offer public earlier on Monday, saying easyJet was not willing to engage in meaningful negotiations. The proposal reportedly included a mix of cash and shares aimed at appealing to both shareholders and management.
Some large investors told the FT they would only consider negotiations if the offer rises to around £7 per share (~
$8.8 per share), implying a total valuation of about £5.3 billion (~
$6.6 billion). That level is seen as a potential threshold to restart talks.
$ESYJY