EasyJet to Raise $1.7 Billion After Rejecting Takeover Bid

EasyJet to Raise $1.7 Billion After Rejecting Takeover Bid
EasyJet planes are parked at a stand at Stansted Airport, in Stansted, Britain on June 30, 2020. Dan Kitwood/Getty Images
Reuters
Updated:

LONDON—EasyJet has rejected a takeover offer and will instead raise $1.7 billion from shareholders to strengthen its position in a European market struggling to recover from the COVID-19 pandemic, the British airline said on Thursday.

The low-cost carrier did not identify its suitor, but said the all-share approach fundamentally undervalued its business and the potential bidder had since said it was no longer interested in a deal.