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Euronews
Euronews
Quirino Mealha

Apollo hijacks easyJet takeover with £5.7bn bid, trumping Castlelake

EasyJet said on Friday it had agreed in principle to Apollo Global Management's cash offer of £7.15 a share, worth about £5.7 billion (€6.6bn), which the board judged a "superior outcome" for shareholders than the £6.90 a share tabled by US private equity firm Castlelake.

Having accepted Castlelake's proposal only last Sunday, the Luton-based airline said it was "no longer minded to recommend" it.

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