Easyjet ready for takeoff ahead of shareholder vote
Easyjet shareholders are poised to wave through Apollo’s £5.7bn offer for the budget carrier, in a move that will confirm its departure from the London Stock Exchange after quarter of a century on the capital’s bourse. At a shareholder vote on Wednesday investors are likely to rubber stamp the transaction, three months on from the [...]
Easyjet shareholders seem set to approve Apollo's £5.7bn offer for the budget airline, paving the way for the carrier to leave the London Stock Exchange after 25 years. The vote is expected to go ahead on Wednesday, following Apollo's successful bid that outpaced Castlelake's £5.5bn proposal. Apollo's offer, valued at 715p per share, was backed by Easyjet's founder Stelios Haji-Ioannou, who will transfer his shares into the new ownership structure.
While Easyjet is planning to cut jobs in the lead-up to the deal to cut costs, the airline still needs EU approval to complete the transaction, as Apollo must meet European Commission rules requiring majority ownership by European citizens.
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