![\"A](\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2026\/06\/0020a5f9-614.jpg\"\/)
\nEasyjet was founded by British\u2011Cypriot entrepreneur Stelios Haji\u2011Ioannou in 1995<\/p>\n
Castlelake made public its \u00a34.74 billion ($6.26 billion) takeover plan for EasyJet this morning, ramping up pressure on the board of the budget airline, which promptly rejected it as “opportunistic” and not in the best interests of shareholders.<\/p>\n
Minneapolis-based Castlelake, which is a major aviation investor and manages about $38 billion in assets, said the move would allow EasyJet shareholders to weigh the bid’s merits and relay their views before a June 26 offer deadline.<\/p>\n
“There will be increased pressure on the board this week,” Goodbody Stockbrokers analyst Dudley Shanley said of the proposed offer price of \u00a36.25 per share from Castlelake.<\/p>\n
Shares in the UK carrier, founded by British\u2011Cypriot entrepreneur Stelios Haji\u2011Ioannou in 1995, rose more than 5% in early trading to \u00a35.30, their highest level in nearly a year.<\/p>\n
“The board believes that the third proposal represents an opportunistic attempt to acquire EasyJet ‘on the cheap’ and that it is therefore not in the best interests of easyJet shareholders,” the budget carrier said in a statement.<\/p>\n
Castlelake said its proposal is backed by former Malaysia Airlines CEO Peter Bellew and another European Union national, as it seeks to smooth over possible European regulatory hurdles.<\/p>\n
Peter Bellew was also a former chief operating officer at Ryanair, Riyadh Air and EasyJet.<\/p>\n
\nEasyjet was founded by British\u2011Cypriot entrepreneur Stelios Haji\u2011Ioannou in 1995<\/p>\n
EasyJet said it was focused on its medium-term targets and growing its holidays business, which has accounted for a growing share of profit despite uncertainties.<\/p>\n
Castlelake’s \u00a36.25 per share proposal made on June 20 represents a premium of about 57% to easyJet’s share price on May 29 before the US group disclosed its interest and follows two bids of \u00a35.6 and \u00a36.<\/p>\n
It said EasyJet’s “unwillingness to engage meaningfully” was a reason for going public with the bid, which included a partial equity alternative for EasyJet investors.<\/p>\n
EU ownership requirements<\/p>\n
To navigate European airlines ownership rules, which require European carriers to be majority owned and controlled by EU nationals, Castlelake has partnered with senior industry executives Bellew and Mark Breen.<\/p>\n
Castlelake said its proposed EasyJet ownership structure aligns with models used by other European airlines for compliance, but EasyJet argued that the envisaged structure was “opaque” and would not form any basis for assessing the bid.<\/p>\n
Shanley said that EasyJet equity investors could be disappointed due to the lack of a European airline partner.<\/p>\n
Castlelake said its bid is expected to be fully funded through a combination of committed equity and debt, with Goldman Sachs indicating confidence in arranging the required funds.<\/p>\n","protected":false},"excerpt":{"rendered":"Castlelake made public its \u00a34.74 billion ($6.26 billion) takeover plan for EasyJet this morning, ramping up pressure on…\n","protected":false},"author":2,"featured_media":512370,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[72,61,60],"class_list":["post-512369","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/512369","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=512369"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/512369\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/512370"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=512369"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=512369"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=512369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}