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00:02EasyJet agreed in principle to a sweetened takeover bid from U.S. investment firm Castle
00:07Lake that values the airline at up to $7.34 billion, according to CNBC. The offer of £6.90
00:14a share represents a 73% premium to EasyJet's closing price on May 29th when Castle Lake
00:21disclosed its interest. The deal would take the 31-year-old budget airline private as carriers
00:26face higher fuel prices and profit pressure tied to the Iran conflict. EasyJet rejected
00:31a £4.93 billion proposal from Castle Lake in June, but continued talks by granting limited
00:37access to commercial data. The board said it would be minded to recommend the latest bid,
00:42while Castle Lake must submit a firm offer by August 3rd.
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