easyJet rejects take-over bid

In a stock exchange disclosure, easyJet announced that the airline has rejected an unsollicited take-over bid from a rival airline. According to the airline, the bid seriously undervalued easyJet and the bid was therefore rejected unanimously by the board. Although the bidding airline was not revealed in the statement, sources are saying low-cost competitor Wizz Air was behind the take-over bid. It's also known that the bidding airline is not considering to launch a second attempt at this time.

A combination of easyJet and Wizz Air would have created a very large low-cost airline. easyJet currently has a fleet of 310 aircraft and Wizz Air 145 planes. Combined they would have been a fierce competitor to Ryanair. easyJet also has open orders with Airbus for 92 A320neos and sixteen A321neos.

In the same stock exchange disclosure, easyJet announced it plans to raise 1.65 billion US dollar to accelerate its post-pandemic strategy and position the airline for continued growth. 

Photo by easyJet.