Touch and Go. I doubt that BA could buy Easyjet. They are only just breaking even at the moment, they have £4 billion of debt, their pension fund has a £1 billion deficit, and their credit rating is so low in the city that their bonds are 'junk' status. They are trying to survive - not expand.
Most of those who have been in aviation for more than 10 years have seen this before. Easyjet looks just like Air Europe to me. i.e. big ideas, lots of aircraft on order, a recession looming and no real idea of where the passengers will come from to pay all the bills that are mounting fast.