EasyJet Shares Jump After Takeover Bid of Over 7.3 Billion Dollars
Shares in British low-cost carrier easyJet rose by up to 11.4 percent after the airline agreed in principle to a takeover bid of 5.5 billion pounds, around 7.34 billion dollars. Investors remained cautious despite the surge.
British low-cost carrier easyJet agreed in principle to a takeover bid on Monday, which temporarily drove the share up by as much as 11.4 percent. According to Daily Sabah, the bid stands at 5.5 billion pounds, equivalent to about 7.34 billion dollars. Despite the share surge, investors remained reserved, pointing to open questions about the terms, financing, and regulatory approval of the deal. The move comes at a time of possible consolidation in European aviation. The report comes from a single state-aligned source; voices from the bidder, from easyJet itself, or from competition authorities are missing and should be kept in mind.