easyJet declined a £4.7bn takeover offer from Castlelake, the third proposal in a contentious bid process. The US private credit firm argued its 625p-a-share offer represented a 59% premium to pre-publication share prices, but easyJet labeled the approach “highly opportunistic,” citing market instability linked to geopolitical tensions. The £3.94 share price from May 28 served as the baseline for valuation, though easyJet’s stock rose 3.2% to 520p post-announcement.

Castlelake insists its proposal aims to stabilize the airline amid challenges from Iran-related disruptions, emphasizing plans for “responsible stewardship” through governance reforms.