Article #70267

Agreement in principle with Castlelake follows several rejected offers and means UK’s biggest low-cost carrier will be taken private

The airline easyJet has said it intends to accept a £5.5bn takeover offer by the US investment firm Castlelake that would take Britain’s biggest low-cost carrier private.

The companies announced an agreement in principle on Sunday evening in a statement, and requested an extension to a deadline to complete the deal formally. The agreement came after weeks of negotiations and several rejected offers.