EasyJet rejected three takeover offers from Castlelake, including a latest bid valuing the company at about £4.74 billion ($6.3 billion) on June 21, 2026 [1, 2, 3]. The latest offer stood at 625 pence per share, up from earlier bids of 560 pence and 600 pence per share [2, 3]. EasyJet said it rejected the proposals as not in shareholders’ best interests and accused Castlelake of trying to buy the company "on the cheap" [1, 2].
Castlelake responded by accusing EasyJet’s board of showing an "unwillingness to engage meaningfully." The investor group said it was taking the bid directly to shareholders to seek their views [2, 3]. To comply with EU ownership rules, Castlelake partnered with EU-based investors Mark Breen and Peter Bellew in its takeover proposal [2, 3].
EasyJet’s board expressed confidence in the airline’s strategy and long-term value creation. It cited its strong balance sheet, net cash position, high customer satisfaction, and employee engagement as key strengths [2]. The airline operates a modern fleet of Airbus A320-type aircraft and holds valuable airport slots at Milan, Geneva, and Luton airports [2].
After the takeover offers were rejected, EasyJet’s share price rose as much as 3.7% in early trading to 522.8 pence [2]. The largest individual shareholder remains founder Stelios Haji-Ioannou’s family with a 15.3% stake [2].
Castlelake, with $36 billion (£27 billion) in assets under management and headquartered in Minneapolis, first revealed its takeover interest in late May 2026 [2, 3]. It made its initial bid of 560 pence per share on June 12, 2026 [2]. The firm announced its third proposal publicly on June 22, after EasyJet’s rejection of the 625 pence offer [3].
Under City takeover rules, Castlelake has until 5pm on June 26, 2026, to announce whether it will make a formal offer for EasyJet [3].
