U.S. investment firm Castlelake is assessing the possibility of joining forces with MSC, described as the world\'s largest shipping group, as it contemplates a potential takeover bid for budget airline easyJet, according to an Italian press report.
Last week Castlelake disclosed it was in the early stages of considering an offer for easyJet that would exceed 403.23 pence per share, while stressing that it had not made any approach to the airline\'s board. Under the procedures set out by UK takeover rules, the firm has until June 26 to either table a binding bid or abandon the effort.
The report cited two sources familiar with the discussions who said that, if Castlelake proceeds with a formal bid by the deadline, it aims to partner with MSC to ensure the acquisition would meet EU ownership requirements. Two additional sources quoted in the report viewed MSC\'s involvement as possible and said the shipping group had already been contacted about the matter.
MSC, which is headquartered in Switzerland and led by Italian billionaire Gianluigi Aponte, operates a diversified transport and logistics business. The group runs container shipping services and logistics operations, manages terminals and inland transport, and operates passenger cruises. It also holds a 49% stake in Italo, the Italian high-speed rail operator.
The report noted that a transaction combining MSC and easyJet could enable MSC to exert control across a broad leisure travel chain - spanning flights and cruise ships - in a structure the report likened to that of German travel group TUI. The article also pointed out that easyJet has an existing holiday package business that it launched in 2019.
When asked to respond, MSC declined to comment. EasyJet and Castlelake were not immediately available for comment, the report said.
Market detail and public information included in the report
- Castlelake has signaled it is considering an offer above 403.23 pence per share but has not yet approached easyJet\'s board.
- The firm faces a June 26 deadline under UK takeover rules to make a firm bid or withdraw from the process.
- Report sources indicated Castlelake is exploring MSC as a partner to meet EU ownership constraints should a formal bid be launched.
- MSC confirmed it would not comment; easyJet and Castlelake were also not immediately available for comment.
The situation remains contingent on Castlelake\'s internal decision-making and any response from MSC or easyJet. The report does not indicate that a formal approach has been made to easyJet\'s board at this time, and it does not provide additional detail about the structure or financing of any potential consortium.