EasyJet Backs Apollo’s $7.7 Billion Cash Bid Over Castlelake Offer
APO•APO•APO•APO•EasyJet’s board has endorsed Apollo’s £700p-per-share cash bid valued at $7.7 billion, rejecting Castlelake’s rival proposal. The backing boosts Apollo’s chance of securing shareholder approval and signals heightened deal momentum in the takeover contest.
On July 10, EasyJet’s board recommended shareholders accept Apollo’s all-cash offer of £700 per share, valuing the airline at approximately $7.7 billion. The board cited the certainty of funding and superior value compared with Castlelake’s competing bid.
Apollo’s endorsement by EasyJet’s board strengthens its path to a successful takeover, subject to shareholder and regulatory approvals. The win would expand Apollo’s asset-management footprint while requiring debt financing commitments and integration planning upon deal closure.
