EasyJet agrees to £5bn takeover by US investment firm

Agreement in principle with Castlelake follows several rejected offers and means UK’s biggest low-cost carrier will be taken private

EasyJet has agreed a £5bn takeover by US investment firm Castlelake that will see Britain’s biggest low-cost airline taken private.

The companies announced an agreement in principle on Sunday evening in a statement to the stock market, and requested an extension to a deadline to complete the deal formally. The agreement came after weeks of negotiations and several rejected offers.