Shares of easyJet rallied nearly 10% on Monday, after the Luton-based airline reached an ‘agreement in principle’ over the potential acquisition of the company by US-based investment firm Castlelake for $7.3 billion.
According to a report by Reuters, easyJet had stated on Sunday that it was prepared to accept Castlelake’s revised bid of £6.90 apiece, thereby concluding negotiations that have been going on for the past month, which could potentially reshape the aviation industry of Europe.
