UK budget carrier EasyJet announced on June 25, 2026, that it had rejected a fourth, sweetened takeover proposal from US-based investment firm Castlelake. The offer valued the airline at approximately £6.50 per share, which EasyJet's board deemed insufficient.
In a statement, EasyJet said the proposal 'fundamentally undervalues the company and its future prospects.' The airline emphasized its strong recovery in passenger demand and cost-cutting measures as reasons for the rejection.
Castlelake, which already holds a significant stake in EasyJet, had previously made three unsuccessful approaches. The latest bid represented a premium of about 15% over EasyJet's closing share price on June 24.
Analysts suggest that EasyJet's rejection may prompt Castlelake to either increase its offer or seek other avenues to influence the company's strategy. EasyJet shares rose 2% in early trading following the news.
