EasyJet agrees to £5.7bn takeover
Castlelake withdrew a rival £5.5 billion bid, and easyJet’s founder and family, who own about 15%, backed Apollo’s takeover.
- EasyJet has agreed to be taken over by US firm Apollo in a £5.7 billion deal.
- EasyJet's founder Sir Stelios Haji-Ioannou, who still owns around 15% of the business, said he supported Apollo's plans for the airline "to create more growth".
- EasyJet chief executive Kenton Jarvis said "We welcome Apollo's commitment to our business and our people, and believe that its experience in the aviation sector makes it a strong partner for EasyJet".
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Sky News UK
Great Yorkshire RadioEasyJet agrees to £5.7bn takeover
EasyJet's board unanimously recommended the cash offer following months of uncertainty surrounding one of Europe's biggest low-cost airlines, as the industry struggles against surging costs from the Iran war.
The Independent
EasyJet to be sold to US private-equity firm in £5.7bn deal
Apollo pledges not to cut jobs for at least a year
Stockholders and founder of the low-cost British company EasyJet accepted the proposed purchase of the US Apollo fund. OPA amounts to 6.7 billion euros, a prize of more than 80%. And advanced after rival Castlelake threw the towel to the ground
The U.S. private equity fund maintains its proposal while its rival Castlelake throws a sponge. The operation that receives the support of the founder of EasyJet will have to receive the approval of shareholders and regulatory authoritiesA further step towards a takeover of EasyJet, a pioneer of low cost aviation in Europe. The U.S. fund Apollo Global Management confirmed on Thursday its offer to buy up to £5.7 billion (6.2 billion Swiss francs)…
Two financial investors have taken over the low-cost aircraft Easyjet. Now one withdraws. A bidder Apollo is practically at the target – and has a prominent supporter.
EasyJet has agreed to be sold to the US company Apollo for £5.7 billion after another competitor decided to withdraw.
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