Budget airline easyJet has branded a possible takeover approach from Castlelake as “highly opportunistic” and confirmed it has not held talks with the US investment fund.
Private credit company Castlelake revealed late on Friday, after the stock market close in London, that it was in the early stages of considering an offer for easyJet, but had not yet approached the firm’s board.
The carrier said the takeover interest comes at a time when its share price has been pushed lower by worries over the impact of the Iran war on the airline sector.
EasyJet said on Monday: “The board notes the highly opportunistic timing when easyJet’s share price is temporarily depressed due to the current situation in the Middle East and its impact on customer confidence and jet fuel prices.”
Luton-based easyJet said it also “notes the considerable regulatory, financial and other execution challenges associated with a potential takeover of easyJet”.
But it said it has a duty to maximise shareholder value and would “consider any proposal, should one be made”.
Castlelake has until 5pm on June 26 make a firm offer or walk away under UK takeover rules.
