Apollo’s £5.7bn easyJet takeover wins shareholder approval
EasyJet shareholders have approved the airline’s £5.7bn takeover by Apollo Global Management, clearing a major hurdle in one of the largest private equity buyouts of a European airline, according to Reuters. The transaction reportedly received support from 97.07% of scheme shares voted, with 83.29% of voting shareholders backing the proposal. EasyJet expects the acquisition to complete before the…
On <date>, EasyJet shareholders have unanimously approved the £5.7bn takeover of the airline by Apollo Global Management, marking a significant milestone in one of the largest European airline acquisitions by private equity firms, according to Reuters. The transaction garnered overwhelming support, with 97.07% of scheme shares and 83.29% of voting shareholders backing the proposal.
The deal is expected to conclude before the end of Q1 2027, concluding more than 25 years of EasyJet's operations on the London Stock Exchange. However, the acquisition faces regulatory hurdles in the European Union, where airline ownership mandates a majority of EU ownership. Currently, EU persons own 35.07% of EasyJet's shares, while the company has suspended voting rights for non-EU investors to comply with existing regulations.
The takeover has also encountered opposition from employee unions, who have expressed concerns about the potential ramifications for the airline's financial stability. This deal is part of a series of take-private transactions involving London-listed companies, as US private equity firms capitalize on valuation discounts in the UK equity market.
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