EasyJet Shares Jump as Castlelake Goes Public With 625p Takeover Bid After Rejections

Budget airline easyJet (LON: EZJ) saw its shares climb on Monday morning after US private equity firm Castlelake, L.P. took its 625 pence-per-share takeover proposal public, bypassing a board that has now rejected three separate approaches in just ten days.

EZJ stock has risen approximately 3.6% to around 522p in early trading — touching an intraday high of 531.2p — as investors digested the news. The previous close stood at 504p.

Castlelake’s third and latest non-binding indicative proposal of 625p per share in cash, submitted on 20 June 2026 and rejected by easyJet’s board the following day, represents a 59% premium to the airline’s undisturbed share price of 394.2p on 28 May — the last trading day before Castlelake’s interest became public. Even at Monday’s elevated price of around 522p, the offer still implies an upside of roughly 20%.

WELCOME BONUS - Free Share Bundle When You Invest £50! Get up to £500 cashback for investing with IG.

Invest in 15,000+ shares and ETFs. Open an account now, invest at least £50, and you’ll get a free share bundle worth between £40 and £200. T&Cs apply.

5.0

Open Account Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

The firm, which has partnered with aviation executives Peter Bellew and Mark Breen as EU national co-investors to satisfy European airline ownership rules, says Goldman Sachs is “highly confident” of arranging the required debt financing.

EasyJet’s board, however, has unanimously rejected all three proposals — at 560p, 600p, and 625p — branding them “highly opportunistic” and accusing Castlelake of exploiting a share price temporarily depressed by Middle East conflict disruption. The board insists the airline remains on track to deliver more than £1 billion in pre-tax profit in the medium term, underpinned by a fleet renewal programme and the continued strong growth of easyJet Holidays.

Castlelake now faces a “put up or shut up” deadline of 5 pm on Thursday, 26 June 2026, by which time it must either announce a formal firm intention to make an offer or walk away entirely.