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Davidson Kempner discloses 1.19% easyJet position under UK Takeover Code

The hedge fund reported 8,989,530 easyJet shares referenced through cash-settled derivatives and said it increased its long CFD position in two trades on July 29.

Summary

Davidson Kempner Capital Management LP disclosed an interest in easyJet plc representing 1.19% of the airline’s 27 2/7p ordinary shares under Rule 8.3 of the UK Takeover Code. The position, dated July 29, 2026 and disclosed on July 30, consisted entirely of 8,989,530 shares referenced through cash-settled derivatives rather than directly owned stock. The filing also showed two trades that increased a long CFD position, covering 381,848 shares at GBP 6.1200 and 100,000 shares at GBP 6.0725. Davidson Kempner said it had no indemnity or other dealing arrangements, no agreements related to options or derivatives, and did not attach a Supplemental Form 8 for open positions.

Terms & Concepts
  • cash-settled derivatives: Contracts whose gains or losses are paid in cash rather than by delivering the underlying shares.
  • CFD: Contract for difference, a derivative that tracks price moves in an asset without requiring ownership of it.
  • Rule 8.3 of the UK Takeover Code: A UK disclosure requirement for holders of 1% or more of relevant securities during an offer period.