EasyJet agrees to £5.7bn takeover by US firm
The no-frills carrier agrees to be bought by US firm Apollo after a rival suitor drops out.
EasyJet, a prominent European airline, has reached a £5.7bn takeover agreement with US firm Apollo. This deal follows the withdrawal of rival bidder Castlelake, which had previously made multiple offers for the company. EasyJet's CEO Kenton Jarvis expressed confidence in Apollo's partnership, praising its experience in the aviation sector.
The deal, which requires approval from regulators, including in the EU, is expected to strengthen EasyJet's growth and operational ambitions. However, the airline's share price is still below its pre-pandemic highs. Apollo's offer of £7.15 per share is significantly higher than initially proposed, but experts believe it remains short of the company's previous peak.
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