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Stock impact report

EasyJet becomes takeover target after share price slump [Yahoo! Finance]

EASYJET PLC S/ADR (ESYJY) 
NASDAQ:AMEX Investor Relations: corporate.easyjet.com/investors.aspx
Company Research Source: Yahoo! Finance
EasyJet has become a takeover target after it was linked to a bid from the world's biggest shipping container company. Shares in the budget airline surged as much as 11.5pc in early trading following reports Mediterranean Shipping Company (MSC) had tapped an unnamed investment fund to explore a potential offer. A spokesman for the shipping giant denied any involvement. Shares in easyJet , which declined to comment, fell back but remained up more than 3pc at the top of the FTSE 100. It suggests investors believe the airline may now be a takeover target. EasyJet's share price has slumped by roughly two thirds over the last decade, leaving it valued at £3.6bn. That is despite a recent improvement in profits, with pre-tax profits rising £50m in the third quarter as passenger numbers ticked up. The company's low market value is thought to have attracted potential suitors, alongside its valuable landing slots at prime European airports including Gatwick, Milan, Paris and Lisbon. Show less Read more
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