U.S. investment firm Castlelake is reportedly considering a partnership with MSC, the world’s largest shipping group, as part of a consortium for a potential takeover bid on British budget airline easyJet. This development was reported by Italian daily Corriere della Sera on Thursday.

Last week, Castlelake announced it was in the preliminary stages of contemplating an offer for easyJet, with a proposed price exceeding 403.23 pence per share. However, no formal approach has been made to easyJet’s board yet. According to UK takeover regulations, Castlelake has until June 26 to either submit a firm bid or withdraw its interest.

Should Castlelake decide to move forward with a formal bid by the deadline, it hopes to collaborate with MSC to ensure compliance with EU ownership regulations. The report, citing two sources familiar with the discussions, suggests that MSC’s involvement is considered likely, and the group has already been contacted.

MSC, a Swiss-based company managed by Italian billionaire Gianluigi Aponte, operates globally in container shipping, logistics, terminal and inland transport operations, and passenger cruises. The company also holds a 49% stake in the Italian high-speed rail operator Italo.

A potential merger with easyJet would enable MSC to control the entire leisure travel chain, from flights to cruise ships, mirroring the business model of German travel group TUI. EasyJet, which launched its holiday package business in 2019, could complement MSC’s existing operations.

As of now, MSC has declined to comment on the matter, and representatives from easyJet and Castlelake were not immediately available for comment.

Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.