EasyJet rejects £4.7 billion takeover bid from Castlelake

U.S. investment firm Castlelake has made a public takeover bid for EasyJet valued at approximately 4.74 billion pounds, after the budget airline's board rejected three private proposals. The move, announced on Monday, June 22, 2026, sets the stage for a potential battle for control of the Luton-based carrier ahead of a regulatory deadline later this week.

Castlelake, which already holds about 2.14 percent of EasyJet shares, confirmed it made its latest approach on June 20, offering 625 pence per share. The EasyJet board rejected that proposal the following day. The investment firm stated it is now taking its offer directly to shareholders, alleging the airline has declined to engage meaningfully with its advances. This public bid follows two earlier, unsuccessful private proposals pitched at 560p and 600p per share.

The public announcement comes just days before a "put up or shut up" deadline imposed by the U.K. Takeover Panel, which expires at 5 p.m. on Friday, June 26. Castlelake argued its latest offer represents a premium of roughly 59 percent over EasyJet's closing share price of 394.20p on May 28, the day before its interest in the airline became public.