EasyJet rejects £4.9bn bid from Castlelake but allows data access
EasyJet just turned down a £4.9 billion buyout offer from US firm Castlelake, saying the price was too low and the deal felt shaky.
Still, they're keeping the conversation going: EasyJet's board is letting Castlelake peek at some business data in hopes of getting a better offer that actually matches what the airline's worth.
Castlelake's offer proposes 51% EU ownership
This was Castlelake's fourth shot at buying EasyJet, with earlier bids as low as 403 pence per share.
To follow European Union rules, their plan splits ownership: 51% goes to two aviation execs who are EU nationals, while Castlelake and partners like Brookfield own the other 49%.
Now, Castlelake has until July 5 to come back with a new proposal or walk away.
News of these talks bumped EasyJet shares up by 6%, showing investors are pretty hopeful about what happens next.