British budget carrier easyJet has rejected a fourth takeover proposal from US investment firm Castlelake, dismissing the £4.93 billion ($6.50 billion) offer as insufficient.
The latest bid, priced at £6.50 per share, represents a significant increase from Castlelake’s previous £6.25 per share offer, yet the board remains unconvinced of the valuation's adequacy.
74 billion proposal, characterizing it as a "highly opportunistic" attempt to acquire the carrier at a discount.
This rejection marks the latest escalation in a prolonged acquisition saga. easyJet had previously turned down a £4.74 billion proposal, characterizing it as a "highly opportunistic" attempt to acquire the carrier at a discount.
The consistent refusal to accept Castlelake's terms signals the board's determination to secure a premium that reflects the airline's strategic value and operational resilience, rather than capitulating to incremental bidding.
The standoff leaves investors in limbo regarding the future ownership structure of the UK's second-largest airline.
While Castlelake has demonstrated persistence by raising its offer twice, easyJet's steadfast resistance suggests that any eventual agreement would likely require a substantially higher price tag or different deal terms.