EasyJet backs £5.7bn Apollo bid over Castlelake offer
The airline said Apollo’s higher cash offer would give shareholders a better outcome and could trigger a takeover battle with Castlelake.
- On Friday, July 10, 2026, the EasyJet board agreed in principle to a £5.7 billion takeover approach from Apollo Global, withdrawing support for a lower proposal from rival suitor Castlelake.
- Apollo's proposal of £7.15 per share is about 3.6% higher than Castlelake's latest bid of £6.90, prompting the board to shift its recommendation after previously agreeing to the lower offer.
- The Apollo Global offer represents an 81 per cent premium to EasyJet's closing share price of £3.94 on May 28, valuing the firm at approximately $7.66 billion.
- EasyJet and Apollo said in a joint statement the cash offer delivers a "superior outcome" for shareholders, who may also choose the "Stub Equity Alternative" to maintain their investment.
- Apollo must announce a firm offer for EasyJet by August 7, while rival bidder Castlelake has until August 3 to respond or walk away from the takeover process.
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Private-equity giant Apollo launches $7.7B offer for budget airline — setting up potential bidding war
Investment firm Apollo Global Management launched a £5.7 billion ($7.7 billion) bid for easyJet on Friday, trumping a rival offer from Castlelake and setting up a potential takeover battle for one of Europe's biggest airlines.
In the bidder struggle for Easyjet, there is a change in the consolidation of the airline industry. Airlines no longer make up among themselves, now financial investors sort. This can be expensive for passengers.
US private equity firm launches £5.7bn takeover bid for easyJet
British low-cost airline easyJet accepted an improved takeover proposal from US private equity firm Apollo on Friday, triggering a bidding battle after the new £5.7 billion offer surpassed a rival proposal from Castlelake. Apollo’s offer, valued at £5.7 billion (approximately $7.7 billion), exceeds Castlelake’s bid and marks the start of what analysts described as a […]
EasyJet agrees to $7.7B takeover by Apollo, topping Castlelake’s bid
British budget airline EasyJet said Friday it reached an agreement in principle for a £5.7-billion ($7.7-billion) takeover by U.S. private equity firm Apollo, topping a rival offer from fellow American private equity investor Castlelake. The fresh offer signals a bidding battle could now emerge between the two U.S. investors for ownership of the carrier. Apollo’s...
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