EasyJet agrees in principle on Castlelake's sweetened £6.90 per share bid
Details of the EasyJet and Castlelake Takeover Agreement
Overview of the Agreement
July 5 (Reuters) - British budget carrier easyJet said on Sunday it has reached an agreement in principle with Castlelake on a sweetened £6.90-per-share takeover proposal from the U.S.-based investment firm.
Valuation and Offer Details
The new offer values easyJet at £5.23 billion ($6.94 billion).
Previous Offers and Negotiation History
Castlelake had previously proposed £6.50 per easyJet share, which was rejected by easyJet.
Last month, in a bid to keep takeover talks alive, the airline had said it would grant Castlelake limited access to commercial data after the U.S. investment firm returned with an improved offer, signalling a willingness to engage further even as the airline rejected the latest £4.93 billion proposal.
Additional Information
($1 = 0.7490 pounds)
(Reporting by Yamini Kalia in Bengaluru; Editing by Rashmi Aich and Louise Heavens)
