EasyJet PLC (LSE:EZJ) shares jumped sharply on Tuesday after unconfirmed media reports suggested that shipping giant MSC Group may be exploring a potential takeover offer.
The stock rose 3.5% by 07:55 GMT, after an early rally of more than 7%. Despite the spike, EasyJet shares remain down 11% year to date, compared with a 2% decline in the broader European travel and leisure index.
According to Corriere della Sera, citing market sources, MSC is considering a bid for the low-cost airline as part of a broader strategy to integrate its transport operations. The deal could provide strategic synergies with MSC’s cruise business, leveraging EasyJet’s strong presence in key European markets.
A formal offer would likely value EasyJet at around £4 billion, with MSC expected to partner with an investment fund to finance the transaction, following a similar structure to its past deals. At current market prices, the airline’s valuation stands at approximately £3.6 billion.
MSC has a track record of strategic investments, including the acquisition of Italo – Nuovo Trasporto Viaggiatori in partnership with Global Infrastructure Partners and port infrastructure investments alongside BlackRock.
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