Shares of easyJet surged as much as 11.5% on Tuesday after reports suggested that Switzerland-based shipping giant MSC Group is exploring a takeover of the budget airline.
Reports of a possible offer first emerged in the Italian daily newspaper Corriere della Sera, which said a number of prospective buyers were considering an offer.
The reports seen the London-listed carrier’s stock price biggest jump in three years, before closing up 8% at 501¼p.
While easyJet shares fell back, they remained up more than 7% at the top of the FTSE 100, suggesting investors believe the airline may now be a takeover target.
EasyJet has declined to comment, while MSC has denied any involvement in a takeover bid.
FTSE100
The UK's flagship share index, the FTSE 100, was up 51 points at 9,455 shortly after opening this morning.
Brent crude oil futures were down 0.14% at $62.30 a barrel.
Companies reporting today
- ASML Holding* - Q3 Results
- Entain - Q3 Trading Statement
- Jupiter Fund Management - Q3 Trading Statement
- Rank Group - Q1 Trading Statement
- Rathbones Group - Interim Management Statement
- Rio Tinto - Q3 Operations Review