Castlelake's latest 6.90 pounds-a-share proposal has a high likelihood of succeeding, with easyJet's board indicating it would support an offer on those terms, Davy Research analysts say. The board's recommendation isn't unexpected given the airline's share price performance in recent years, they say in a research note. The proposed acquisition is a major event for the European aviation sector, they add. The analysts note easyJet's roughly 10% share of the intra-European market and suggest the deal could have wider implications for the industry's competitive landscape. Shares trade 9.7% higher at 6.13 pounds. (nina.kienle@wsj.com)