EasyJet shares rose 10% on Monday after Castlelake said it was considering a potential takeover bid, with the British budget airline calling the U.S. investment firm's timing "highly opportunistic" given the impact of the Iran war. Castlelake said on Friday it was in the early stages of considering a possible bid for easyJet, but no approach has been made to its board and there can be no certainty an offer will be made. It has until June 26 to make a firm bid or walk away.
EasyJet responded on Monday by saying it has not held talks with Castlelake but it would assess any potential offer if one was made, noting its stock price was "temporarily depressed" by the war's impact on jet fuel prices and customer confidence.
