EasyJet said a takeover bid from Castlelake would be ‘highly opportunistic’ as the prospect of an approach from the US private credit group sent shares in the low-cost carrier up 12 per cent on Monday.
Castlelake said on Friday that it was considering a bid for easyJet, but had not yet approached the airline’s board. In a statement on Monday, easyJet called the potential offer “highly opportunistic” and said no discussions had been held with Castlelake.
On Monday, the US group disclosed that it had already acquired 2.14 per cent of easyJet’s shares.
In its statement, easyJet said: “The board notes the highly opportunistic timing when easyJet’s share price is temporarily depressed due to the current situation in the Middle East and its impact on customer confidence and jet fuel prices.”
EasyJet has tapped UK banking veterans Simon Robey and Simon Warshaw from Evercore to advise on a defence strategy alongside its corporate brokers BNP Paribas and Panmure Liberum, according to people familiar with the matter.
