Castlelake

• Castlelake has withdrawn its interest in easyJet, effectively removing a major competitor and clearing the path for Apollo Global to pursue the airline. • In broader financial markets, European shares rose and Brent crude oil prices remained stable, hovering around $80 per barrel. • Asian markets saw significant declines, with South Korea’s Kospi dropping 4.6%, Hong Kong’s Hang Seng falling 1.9%, and Japan’s Nikkei decreasing by 0.9%.

British carrier says it hopes to receive ‘more attractive proposal that better reflects’ its valueBusiness live – latest updatesEasyJet has opened talks with Castlelake, despite rejecting a fourth takeover offer worth £4.9bn from the US investment firm, with the airline saying it would open its books in the hope of receiving a higher bid.The British budget carrier unanimously rejected the latest proposal, of 650p a share, saying it still “substantially” undervalued the company while flagging “significant questions of deliverability”. Continue reading...