Updates

Easyjet - Fifth take-over offer at 690p accepted; gain 33%

August 2026

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

After rejecting four take-over offers, Easyjet finally accepted the fifth, at 690p, from US-based private credit and aviation investment firm Castlelake. It’s a healthy premium but not a knock-out bid at 16.8x this year’s EPS forecast, falling to 11.3x in FY28. To comply with European Union airline ownership regulations, Castlelake is reportedly looking to partner with Swiss-Italian shipping and cruise giant MSC but it could yet be blocked by the EU. No formal offer has been made to the board, and easyJet has dismissed the interest as "highly opportunistic," citing that their stock price had been temporarily depressed due to the Middle East conflict, which raised jet fuel prices. Under UK takeover rules, Castlelake has unti ...

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