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Let's take a look at some of the stocks on the move here in Europe today. I'm Caroline Hedger with Lizzie Burden. Were joined Bablinberg with Portaclomla. Good morning, So let's start with the easy Jet surging today after what it called a highly opportunistic takeover bit tell us small.
Yeah, EasyJet is attracting some say takeover interest because its
share price is struggling so bad. So it said that it hasn't had any talks yet with the investment firm Castle Lake, which had said on Friday evening that it was considering an offer for easy Jet, and EasyJet is called the approach highly opportunistic given the very depressed stock price at the moment, because of course those higher fuel costers flight disruptions really weighing on the company and it has been underperforming Ryan there, which is really its closest
rival by quite a large margin because Ryana is benefiting
from some of those feel hedges. So right now there are no talks on going as of yet, and easy Jet said that they was confident in this strategy going forward, but it seems that investors might actually be quite keen on a deal potentially, So we saw shares really surging this morning and some analysts as saying that Castle Lake was a credible bidder that EasyJet has got some big question marks over his future of his strategy, and so this could mark the first big example of this kind
of consolidation this m and a activity in the airline industry which a lot of investors in industry experts have been talking about because of those higher fuel costs, and this is something that the British Airways owner IH has already pointed to, saying that this creates an opportunity to potentially snap up some rival. So we could see actually
EasyJet being part of that. And Castle Lake has until June twenty sixth, so just a few weeks to make a formal offer to walk away, so we'll definitely keep an eye on that. But in the meantime, those shares are really rising very strongly for easy Jet.
Yeah, and in fact pairing some of the earlier gains, but still up a whopping amount twelve point four percent at the moment, Let's also tend to Shider Electric Chloe because those shares are gaining. But we've also got tech as a sector of So is this a Schneider story or is it a broader tech story.
It's more of a broader text story, but Schneider very much at the center of it. So a lot of those data center equipment companies overall doing very well today, so Schneider look on. We also have Semen's Energy, which is a company that provides some of those guest turbines to feed that data center power Prism is the Italian company that makes cables for for that data center industry as well. So the sector as a whole is reacting
to a couple of things we have. It's kind of overall optimism in the AI the tech sector, given and video announcing it would enter the PC market, so that indicates even more investment in this chip making and then also specifically for French names, so Schneider and look there's also a major investment from soft Bank in French data centers, so the company plans to invest as much as seventy five billion dollars in the country with that's one of
the biggest AI infrastructure investment in Europe from soft Bank, and so that could obviously very really benefit some of those companies, and we're seeing the share price react to that this morning.
Okay, so that on Schneider Electric. Meanwhile, Universal Music Group dipping slightly.
Why, Yeah, some weekness there for Universal after rejecting an offer from Bill Ackman's Pershing Square. So said that the offer was too low, that the deal was not in the interests of either the shareholders or the artists that
Universal represents. The offer that Pershing Square had made was quite a complex one and it had already drawn abit of skepticism from from investors, so it would have had to win over the French billionaire von Bolo, who is a Universal's biggest shareholder, and Son said last week that the offer under values the business and called on the company to reject it. So we're essentially now a bit of an invest with this. So Universal has taken some
steps to improve performance. It's it's sold half of its stake in Spotify, it increases share buyback program, but it seems that investors are not quite convinced, and so we're seeing a little bit of weakness there for Universal.
This morning, the stock movers report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street, and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.