EasyJet says US takeover bid would be ‘highly opportunistic’

Airline’s shares hit highest level in three months as investment group Castlelake says it is considering offer Nils Pratley: EasyJet is an obvious takeover target, but US approach may not be a flyer EasyJet has called a potential £3bn bid by a US investment group “highly opportunistic” as shares in the airline shot up to their highest level in three months on news of the takeover interest. The US private credit firm Castlelake said on Friday it was considering a takeover offer for the airline. On Monday, it said it had already bought a 2.14% stake in the business and its offer would value easyJet at least at 403p a share, or about £3bn overall. However, easyJet hit out at its potential buyer, saying it was “highly opportunistic timing”, as the airline’s share price was “temporarily depressed due to the current situation in the Middle East and its impact on customer confidence and jet fuel prices”. Before news of takeover interest emerged, shares in easyJet had lost about a fifth of their value since the start of the year. However, the company said its board was confident in its strategy given its cash position and profit outlook. Shares in easyJet shot up by as mu