EasyJet Casts Doubt on Takeover Interest, Calls Timing ‘Opportunistic’

Budget airline easyJet has branded a possible takeover approach from Castlelake as “highly opportunistic” and confirmed it has not held talks with the US investment fund.

Castlelake owns a stake of about 2.14% in EasyJet through the funds it manages, and valued the airline at a minimum of £3.06bn ($3.89bn).

Under City takeover rules, Castlelake, which is headquartered in Minneapolis and manages $36bn (£27bn) in assets, has until 5pm on 26 June to announce whether intends to make an offer for easyJet.

There is not even a deal on the table but there is little surprise in the City that easyJet has become the latest big UK name to face takeover interest.