EasyJet agrees to £5bn takeover by US investment firm

EasyJet, Britain's biggest low-cost airline, has agreed to a five billion pound takeover by US investment firm Castlelake. The deal will take the carrier private, according to the companies' joint announcement to the stock market. It comes after weeks of negotiations and several rejected offers. The agreement is in principle, with the companies now requesting an extension to formally complete the transaction.

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