EasyJet agrees in principle to a takeover by US private equity firm Castlelake at £6.90 per share, valuing the carrier at about £5–5.5B and giving Castlelake until early August to file a binding bid or withdraw.The EasyJet board says it is minded to recommend the proposal if Castlelake completes due diligence and remaining terms are agreed; the transaction is conditional on customary documentation and regulatory approvals.Castlelake, based in Minneapolis and managing $37B in assets with a 375-aircraft leasing portfolio, says it will support growth and fleet modernisation as the airline confronts higher jet fuel costs linked to the Iran war.