Why is EasyJet stock climbing today?

EasyJet's stock surged by 1.2% to 684.6p as the company released its formal scheme document for a £5.7 billion cash acquisition by Apollo Global Management. This critical regulatory step in the UK takeover process reassured investors that the deal is progressing as scheduled. The stock even reached a new 52-week high of 684.8p before the end of the trading day.

JPMorgan analyst Harry J Gowers had maintained a Neutral rating on EZJ with an unchanged price target of 715p, which aligns with Apollo's offer price, signaling confidence in the deal's valuation. Institutional investor Vanguard disclosed a 3.15% stake in EasyJet, indicating ongoing support for the transaction. While there were some concerns from unions about the Apollo deal, EasyJet stated publicly that the deal's completion remains on track.

Other market factors, such as a positive UK GDP surprise and a more optimistic outlook from Bank of England Chief Economist Huw Pill, provided a constructive backdrop for the stock's rise. The combination of these factors led to a narrowing of the arbitrage spread between the current stock price and Apollo's 715p offer, pushing EasyJet's shares to a fresh 52-week peak.

With a shareholder vote now set for November 11, 2026, and a clear closing timeline at the end of Q1 2027, the market perceives today's filing as strong confirmation that the acquisition is progressing according to plan.