Castlelake Submits £4.74 Billion Takeover Bid for easyJet
Minneapolis-based investment firm Castlelake LP has submitted a third takeover bid of £4.74 billion ($6.3 billion) or 625 pence per share in cash for British budget airline easyJet, after the board rejected previous offers as undervaluing the company. The offer represents a premium over recent stock prices and is structured to comply with EU ownership rules by capping Castlelake's stake at 49%.
