British low-cost carrier easyJet has reportedly accepted, in principle, a takeover proposal from U.S.-based investment firm Castlelake. The offer is said to value the airline at approximately US$6.9 billion, or 690 pence per share.
Castlelake had previously submitted four offers that were rejected by easyJet’s board. Following the latest proposal, the parties have reportedly reached an agreement in principle. The transaction remains subject to a formal offer and the required regulatory approvals.
Based at London Luton Airport, easyJet is among Europe’s largest low-cost carriers, operating more than 1,200 routes across 37 countries with a fleet of over 350 aircraft.
If completed, the acquisition is expected to result in easyJet being delisted and converted into a privately held company. Castlelake is reportedly aiming to support the airline’s fleet modernization and growth plans.
