Why did shares in easyJet soar on London stock market today? (opens original article in a new tab)

easyJet shares increased by nearly 7% as the airline's board rejected a fourth takeover proposal from Castlelake, allowing the firm until July 5 to submit a more attractive offer or withdraw.

• easyJet shares rose 7% after rejecting a £6.50 per share takeover offer from Castlelake
• Castlelake was given until July 5 to submit a more attractive proposal or abandon the bid
• The board claimed the latest offer undervalued the company and raised concerns about deliverability
• easyJet's share price is now higher than before Middle East hostilities began