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EasyJet Plc aicraft at London Southend Airport in Southend-on-Sea, UK. Photographer: Chris Ratcliffe/Bloomberg
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By Kate Duffy
July 5, 2026 at 12:21 PM EDT
Updated on July 5, 2026 at 2:00 PM EDT
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EasyJet Plc agreed in principle to a takeover offer of more than £5 billion from Castlelake LP, which swooped in as the UK budget carrier was reeling from soaring jet fuel prices and suppressed demand after the Iran war.
Castlelake’s offer of £6.90 per share in cash gives the airline an equity value of £5.2 billion ($6.9 billion). That valuation increases to £5.5 billion on a fully diluted basis, an EasyJet spokesperson said. The bid was Castlelake’s fifth, with EasyJet calling the previous proposals “highly opportunistic” and saying the US investment firm was trying to buy the airline “on the cheap.”
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