Easyjet

Easyjet, the UK-based budget airline, has formally rejected a fourth takeover bid from US private equity firm Castlelake, which valued the company at £4.9 billion. The airline stated that the £6.50 per share offer substantially undervalued the company and expressed significant concerns regarding the ownership structure and deliverability of the proposed transaction.

Summary of transaction details:

• Value: £4.9 billion
• Sector: Logistics & Transport (Aviation)
• Advisor: Not specified
• Key Entities: Easyjet (Target), Castlelake (Prospective Acquirer)
• Location: UK (Easyjet), US (Castlelake)

Note: While rejecting the current offer, Easyjet's board has signaled an openness to further engagement, agreeing to provide Castlelake with commercial information to help the firm develop a more attractive and viable proposal, indicating that a deal may still be pursued under different terms.