US private equity firm Apollo enters bidding war for easyJet with £5.7bn offer
The board of low-cost airline easyJet has shifted its recommendation to a £5.7bn takeover bid from US private equity firm Apollo. This decision follows a bidding war between Apollo and Castlelake, with the board favoring Apollo's commitment to current management and strategy.
Why it matters
This acquisition highlights the ongoing consolidation in the European aviation sector and the significant influence of private equity firms on major transport infrastructure.
Apollo signalled that it would back easyJet’s current strategy and management and was not looking to break up the company. Apollo signalled that it would back easyJet’s current strategy and management and was not looking to break up the company. easyJet US private equity firm Apollo enters bidding war for easyJet with £5.7bn offer Airline’s board minded to recommend deal – after accepting rival one from Castlelake earlier this week
Prefer the Guardian on Google The board of easyJet has given the green light to a possible £5.7bn offer from the US private equity firm Apollo, as the low-cost airline becomes the subject of a surprise bidding war.
The company’s board said on Friday that it was “minded to recommend” the potential all-cash offer, which values the business at £7.15p a share, to shareholders.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in