EasyJet has formally rejected a third takeover proposal from US investment firm Castlelake, labeling the bid as "highly opportunistic" and insufficient to reflect the carrier's true value.
The board's decision marks a significant escalation in the protracted acquisition battle, signaling that the low-cost airline is unwilling to capitulate to what it views as a discounted offer despite repeated attempts by the private equity group.
74 billion, a figure the board deemed inadequate given the company's operational resilience and market position.
The latest proposal valued EasyJet at approximately £4.74 billion, a figure the board deemed inadequate given the company's operational resilience and market position.
By dismissing the offer, EasyJet's directors are effectively challenging Castlelake to either increase its premium substantially or abandon the pursuit.
This stance underscores the board's confidence in the airline's standalone strategy and its belief that shareholders would be better served by continued independent growth rather than a forced sale at a perceived discount.
The rejection adds another layer of complexity to an already tense standoff.