EasyJet shares jump 10% after an American takeover offer for $7.3 billion
Shares of the British budget airline rose "EasyJet" by 10% at the beginning of trading on Monday, after the company initially agreed to a takeover offer worth 5.5 billion pounds (7.34 billion US$) from a company "Castle Lake USA"
EasyJet announced yesterday, Sunday, its readiness to accept the amended offer from Castle Lake of £6.90 per share, in a deal that may reshape European aviation sector.
The latest offer included a premium of approximately 24% to the share price "EasyJet" At the close of trading on Friday. The stock rose 10.9% to £6.18 by 07:20 RMT on Monday.
The potential takeover deal, which also includes a partial share option, comes at a difficult time for airlines, which are suffering from sharp rises in fuel prices and pressure on profit margins as a result of the war in Iran.
EasyJet said on Sunday that Castle Lake had agreed to commit to "Do your best" The airlines operating in the bloc are majority owned and operated by EU citizens.
EasyJet had rejected the four previous offers it had submitted. "Castle Lake"describing them as opportunistic attempts to buy the company "Cheaply"and expressed its concerns about the management structure.
It is necessary to "Castle Lake" Now submit your formal offer to purchase "EasyJet" By August 3, otherwise it will back out of the deal under British takeover laws.
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