EasyJet Accepts £5.7 Billion Apollo Takeover After £7.15-a-Share Bid Beats Rival
Updated
Updated · bbc.co.uk · Aug 6
EasyJet Accepts £5.7 Billion Apollo Takeover After £7.15-a-Share Bid Beats Rival
3 articles · Updated · bbc.co.uk · Aug 6
Summary
£5.7 billion will take EasyJet private after the airline agreed to Apollo’s £7.15-a-share offer, ending a takeover contest for one of Europe’s biggest budget carriers.
Apollo prevailed after rival bidder Castlelake dropped out, with its final £6.90-a-share proposal falling short of the accepted offer.
Apollo said it backs EasyJet’s existing strategy and sees room to accelerate the group’s operational and commercial plans rather than overhaul the business.
EasyJet chief executive Kenton Jarvis welcomed Apollo’s commitment to the airline and its workforce, which includes more than 19,000 employees across about 1,200 routes in 35 European countries.