EasyJet reaches outline agreement on £5bn takeover by Castlelake
UK airline’s board says it is minded to recommend proposal by US private credit group
EasyJet and Castlelake have come to a preliminary agreement on terms of a takeover that would value the airline at more than £5bn.
The UK airline said in a statement on Sunday that the two groups had agreed in principle to fresh financial terms that would take easyJet private if a firm offer was made by Castlelake and the deadline for a bid was extended to next month.
EasyJet said the latest proposal from the US private credit group had been “at a value that the board would be minded to recommend” to shareholders.