EasyJet Plc extended the takeover deadline for Castlelake to align with rival bidder Apollo Global Management.
Both investment firms must announce a formal bid or withdraw by August 7.
The deadline expires at 5 p.m.
The EasyJet board currently favors Apollo’s £5.7 billion proposal.
The proposal carries a valuation of approximately $7.68 billion.
Apollo’s bid equates to 715 pence per share.
This exceeds Castlelake’s earlier £5.5 billion offer.
Castlelake previously offered 690 pence per share.
The airline is providing due diligence access to both parties ahead of the deadline.
The board advised shareholders to take no action, noting no certainty that either party will make a firm offer.