UK's easyJet rises in pre-market trade after airline backs $7.3 billion Castlelake takeover

easyJet shares rose 12% on Tradegate after agreeing in principle to a £5.5 billion ($7.34 billion) takeover proposal from U.S. investment firm Castlelake. The deal announcement is likely to be a major catalyst for the stock given the deal size and premium implied by the jump in price.

Analysis

easyJet shares rose 12% on Tradegate after agreeing in principle to a £5.5 billion ($7.34 billion) takeover proposal from U.S. investment firm Castlelake. The deal announcement is likely to be a major catalyst for the stock given the deal size and premium implied by the jump in price.