Easyjet Chooses Apollo's Takeover Proposal Over Castlelake's

WHO:

CBS News Finance - EasyJet, a British budget airline, has accepted a takeover offer from U.S. private equity firm Apollo.

Bloomberg Markets - Apollo is identified as a private equity firm competing with Castlelake, another American private equity investor.

WHAT:

Bloomberg Markets - EasyJet is "no longer minded to recommend the Castlelake proposal" and would be minded to recommend Apollo's bid to its shareholders.

Bloomberg Markets - Apollo's bid is valued at £5.7 billion, while Castlelake's offer is valued at £5.5 billion.

CBS News Finance - EasyJet has reached an agreement in principle for a £5.7 billion ($7.7 billion) takeover by Apollo.

Bloomberg Markets - Apollo's offer is for 715 pence per share, which surpasses the rival proposal from Castlelake.

WHERE:

CBS News Finance - The context involves EasyJet, a UK-based airline.

WHEN:

CBS News Finance - The takeover agreement is described as being reached in principle, with no specific future date mentioned for completion.

WHY:

Bloomberg Markets - The competition between Apollo and Castlelake for the acquisition of EasyJet indicates a strategic interest in the UK budget airline market.

HOW:

CBS News Finance - The takeover process involves a financial agreement and bidding competition between private equity firms.

(UPDATED July 10, 2026 16:44 UTC)

EasyJet has decided it is "no longer minded to recommend the Castlelake proposal" and is now inclined to support Apollo's bid to its shareholders. Apollo's offer is valued at £5.7 billion, surpassing Castlelake's bid of £5.5 billion. This shift in recommendation marks a significant development in the ongoing negotiations for the airline.

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(UPDATED July 10, 2026 11:57 UTC)

EasyJet has accepted a takeover offer from U.S. private equity firm Apollo, reaching an agreement in principle for a £5.7 billion, or $7.7 billion, deal. Apollo's offer of 715 pence per share exceeds a rival proposal from another American firm, Castlelake, highlighting the competitive interest in the UK budget airline market. While the takeover agreement is in place, no specific date has been mentioned for its completion.