Shares in easyJet surged nearly 10% after the airline agreed to a £5.5bn takeover at the fifth attempt, but analysts said that it showed UK firms were being bought on the cheap.
The low-cost carrier’s board will recommend shareholders accept an offer price of £6.90 a share from Castlelake, a US private equity firm, after rejecting four previous bids of as little as £5.60 per share. EasyJet shares closed at 610p.
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