EasyJet (EZJ) Rejects £4.74bn Takeover Offer from Castlelake

EasyJet (EZJ) has rejected a £4.74bn takeover offer from US investment firm Castlelake, which included a proposal of 625p per share, a 24% premium to the previous closing price. Castlelake made three approaches this month, all of which were rejected by EasyJet. Castlelake currently holds a 2.14% stake in EasyJet and has until Friday to submit a firm offer or withdraw. The rejection highlights the challenges faced in complying with EU regulations governing airline ownership structures.