easyJet Slams £4.7B Takeover Bid As Attempt To Buy It ‘On The Cheap’

Low-cost carrier easyJet has rejected a £4.7 billion ($6.2 billion) takeover bid by US investment firm Castlelake, with this latest offer being the third proposed by the company. The orangeairline called the bid ‘opportunistic’ and argued that even the revised offer, which represented an increase of £0.25 per share price (£0.33), still undervalued it and its assets. Now, Castlelake has to consider its next steps.