easyJet (LSE:EZJ) shares lifted some 6.5% in Monday's trading session, climbing 33.8p to 423.84p, as the London-listed takeover target reacted to news of a private-equity approach.
The European budget airline, with defensive comments following takeover interest from private equity firm Castlelake, said it is in a position of strength underpinned by an investment-grade balance sheet, a net cash position, and strong customer satisfaction.
The airline added that it is in the early stages of considering a possible offer for the airline, and the board emphasised it has not received any formal discussions, approach or proposal.
The board said it will consider any proposal and will judge offers particularly on valuation and deliverability.
In the meantime, it said the company remains focused on its medium‑term target of delivering greater than £1 billion profit before tax.
Under the City Code, Castlelake must, by not later than 5.00 p.m. on 26 June, either announce a firm intention to make an offer or confirm it does not intend to proceed.
