Added to YB: 2026-07-09
Pitch date: 2026-07-07
EZJ.L [neutral]
easyJet plc
-0.77%
current return
Author Info
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Company Info
easyJet plc operates as a low-cost airline carrier in Europe. The company engages in the development of building projects; financing and insurance business; and tour operator activities, as well as provides holiday packages.
Market Cap
GBP 4.5B
Pitch Price
GBP 5.96
Price Target
6.90 (+17%)
Dividend
2.21%
EV/EBITDA
3.23
P/E
11.04
EV/Sales
0.38
Sector
Passenger Airlines
Category
special_situation
Flash | easyJet Board Recommends 690p Offer, Merger Arb Spread Sits at 13%. Too Wide?
EZJ.L (merger arb): Castlelake's 5th offer at 690p (23% above initial, >70% premium) recommended by Board. Merger arb spread 13% at 610p seen as too wide. 85% base/95% post-launch deal odds; prob-adj spread ~10%, 13-28% IRR base case over 6-12mo. Rule 2.7 due Aug 3. Risks: EU ownership/control, timeline. Downside protected ~550p. Possible IAG interloper. 30-day spread compression trade on 2.7 offer.
Read full article (3 min)