EasyJet Agrees to Castlelake’s Latest Bid Topping £5 Billion

[EasyJet Plc](https://www.bloomberg.com/quote/EZJ:LN) agreed in principle to a takeover offer of more than £5 billion from [Castlelake LP](https://www.bloomberg.com/quote/0925570D:US), which swooped in as the UK budget carrier was reeling from soaring jet fuel prices and suppressed demand after the Iran war.

Castlelake’s offer of £6.90 per share in cash gives the airline an equity value of £5.2 billion ($6.9 billion). That valuation increases to £5.5 billion on a fully diluted basis, an EasyJet spokesperson said. The bid was Castlelake’s fifth, with EasyJet [calling](https://www.bloomberg.com/news/articles/2026-06-22/castlelake-says-three-separate-offers-to-easyjet-were-rebuffed) the previous proposals “highly opportunistic” and saying the US investment firm was trying to buy the airline “on the cheap.”