Easyjet shares soar on reports of potential MSC takeover bid

nvesting.com -- EasyJet PLC (LON: EZJ) shares are rallying on Tuesday following unconfirmed media reports of possible bid interest from shipping company MSC.

The budget airline’s stock was up 3.5% by 07:55 GMT after initially soaring more than 7%.

The shares have declined 11% so far this year, compared with a 2% fall in the European travel and leisure index.

According to Corriere della Sera, citing market sources, maritime giant MSC Group, is considering a bid for Easyjet as part of a transport integration strategy.

The acquisition would particularly benefit MSC’s cruise operations due to Easyjet’s strong position in key markets.

Any official acquisition move would value the airline at approximately £4 billion and would likely involve MSC partnering with an investment fund, similar to its previous transactions. Based on the current share price, the airline is valued at approximately £3.6 billion.

MSC previously acquired Italo high-speed trains with Global Infrastructure Partners and made port investments with BlackRock.

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