EasyJet has formally rejected the latest takeover bid from US investment firm Castlelake, dismissing the £4.74 billion offer as a "highly opportunistic" attempt to acquire the carrier at a discount.
Despite the rejection, the board indicated it remains open to further discussions if Castlelake presents a more attractive proposal, signaling that the path to a potential sale is not entirely closed.
This development marks the third time EasyJet has turned down Castlelake's advances, highlighting the persistent gap between the private equity firm's valuation and the airline's assessment of its own worth.
The board's decision underscores its confidence in the carrier's standalone value and its reluctance to be acquired at what it views as an undervalued price point.
The ongoing standoff has kept M&A speculation alive in the European aviation sector, with investors closely watching for any signs of a revised offer.
Castlelake's continued interest suggests a strong belief in EasyJet's long-term potential, despite the current impasse over valuation.