EasyJet’s board agreed in principle to a £5.5 billion cash takeover offer. A consortium led by U.S. investment firm Castlelake submitted the proposal.
The offer values the low-cost carrier at £6.90 per share. Directors will recommend the deal to shareholders after rejecting previous lower bids.
Brookfield Corp. acts as a key co-investor in the vehicle aiming to take the airline private. The investment group must make a firm offer by August 3, 2026.
The agreement follows a period of volatility for the airline. Higher fuel costs and shifting booking trends impacted recent performance.