EasyJet Accepts £5.5bn Castlelake Takeover Bid

EasyJet has agreed in principle to a takeover offer from US investment firm Castlelake valuing the budget airline at up to £5.5 billion.

The deal comes after EasyJet was hit by soaring fuel costs and reduced demand following the Iran war.

The board said it would be minded to recommend the 690 pence-per-share cash offer to shareholders.

Shares surged 10% on the news, though regulatory concerns linger over EU airline ownership requirements.