Rejected: Shares in EasyJet have fallen sharply today after the airline revealed it had rejected a takeover bidEasyJet said in a statement: 'The board recently received an unsolicited preliminary takeover approach. In a bid to ramp up its recovery, EasyJet has confirmed that it is seeking to raise around £1.2billion from shareholders via a rights issue. EasyJet said it would use the rights issue to bolster its balance sheet and take advantage of growth opportunities that arise from the expected recovery in Europe's aviation market over the coming years. EasyJet is the latest recipient of a takeover bid, although the suitor has already been fought off. The rights issue is underwritten by BNP Paribas, Credit Suisse, Goldman Sachs, Santander and Societe Generale.

Source: The Nation September 09, 2021 09:00 UTC