EZJ.L is trading 9.3% up at $610.00 after easyJet’s board agreed in principle to a sweetened £6.90-per-share all-cash takeover proposal from U.S. investment firm Castlelake.
- The deal values the airline at up to £5.5 billion, effectively putting the company on a path to being taken private.
- The sharp move reflects investors repricing the stock toward the bid level and reacting to the sizeable premium Castlelake is offering versus recent trading levels.