EasyJet to go private after £5bn Castlelake buyout agreement
Business
Big news: EasyJet, the U.K.'s budget airline, is set to be bought out for £5 billion by US investment firm Castlelake.
The deal comes after some back-and-forth: EasyJet turned down an earlier offer, but agreed at £6.90 per share.
If all goes through, EasyJet will leave the stock market and go private.
EasyJet board backs Castlelake deal
Castlelake has until August 3 to make things official or walk away.
They say they're keen to help EasyJet become a tougher competitor in Europe and support its push for greener, more efficient planes.
EasyJet's board is on board with the plan and sees this as a chance for the airline to get stronger during tough times for travel.