EasyJet consiglia agli azionisti di accettare l'offerta da un miliardo di Castlelake.

EasyJet, one of Europe’s largest low-cost airline operators, has effectively agreed to recommend its shareholders accept a takeover offer from American investment firm Castlelake. The proposed acquisition values the company at £5.23 billion (approximately 147 billion Czech crowns), based on a share price of £6.90 per share. This marks a significant shift in the ongoing negotiations between the two entities, as EasyJet had previously rejected four earlier offers, citing concerns that they did not reflect the true value of the company.

The decision comes after a series of developments aimed at keeping the takeover discussions alive. In June, EasyJet announced that it would allow Castlelake limited access to selected commercial data, signaling a willingness to continue talks. Prior to this, the most recent bid stood at £6.50 per share, which valued the company at £4.93 billion. The new proposal represents an increase in both valuation and share price, reflecting a more favorable stance from EasyJet's management.

Both parties have also agreed to extend the deadline under UK merger rules, giving Castlelake until August 3 at 17:00 London time (18:00 Central European Summer Time) to submit a binding offer or withdraw from the deal. However, neither side can guarantee that a binding offer will be made, even if all preliminary conditions are met or waived. Castlelake expressed respect for EasyJet and its employees, stating its intention to support the airline’s future growth and fleet modernization programs.

To comply with European Union regulations requiring majority ownership of airlines by EU citizens, Castlelake has proposed a shareholder structure that meets these requirements. The plan involves forming a partnership with two EU nationals—former operations director of EasyJet, Peter Bellew, and aviation consultant Mark Breen—who will own a company based in the EU. This entity will hold a controlling stake in the airline, ensuring compliance with regulatory standards.

EasyJet operates over 1,200 routes across 38 countries and transported more than 90 million passengers last year. Founded in 1995 by British-Cypriot entrepreneur Stelios Haji-Ioannou, who remains the largest investor with his family holding approximately a 15% stake in the company. Castlelake, headquartered in Minneapolis, is a major player in the aviation sector, managing assets worth around $38 billion (over 803 billion Czech crowns).

The potential acquisition highlights the evolving landscape of the global aviation industry, where strategic partnerships and ownership structures play crucial roles in navigating regulatory frameworks and market dynamics. As the deadline approaches, stakeholders will be watching closely to see whether Castlelake submits a binding offer and how the situation unfolds in the coming weeks.