Monday 03 August 2026 7:28 am
Easyjet has extended the deadline for Castlelake to make a bid.
Easyjet has extended the window for another takeover bid from asset manager Castlelake after its offer was usurped by investment giant Apollo last month.The budget airline said on Monday that it was still set to recommend the Apollo deal to shareholders, which values its stock at £7.15 per share, but would extend Castlelake’s deadline to bring it in line with the rival bidder.The prolongation means both firms will have to make a firm offer for the airline or announce they intend to walk away by no later than 5pm on the 7 August. Castlelake’s original deadline was 3 August.Easyjet said it is not clear whether any firm offer will be made and the announcement was released without the consent of either potential suitors.The carrier rejected multiple offers from Castlelake before agreeing to the now-trumped bid that valued it at around £5.5bn, marking a 73 per cent premium to Easyjet’s closing price on 29 May.The interest in the London-listed firm has led to a major stock rally over the last month. Easyjet shares have surged over 40 per cent since the beginning of June, now trading around the 623p mark.Easyjet described the offer from Apollo – one of the world’s largest asset managers – as “an attractive combination of value, strategic alignment and long-term stewardship of the business”.A confirmed deal will see the the group depart from the London Stock Exchange, making it one of several major City names to leave the bourse this year.Earlier this year, asset manager Schroders was snapped up in a near £10bn deal by American investment firm Nuveen. This was followed by Tate & Lyle agreeing to a £2.7bn takeover by a rival American food firm in June.Top City names have raised concerns over the wave of foreign firms picking off rivals from the London stock market, which is now set to surpass well over £40bn.
