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The Guardian - UK
The Guardian - UK
Business
Mark Sweney

US private equity firm Apollo enters bidding war for easyJet with £5.7bn offer

easyJet Apollo United States Castlelake
Passengers board one of three easyJet aircrafts at the Berlin Brandenburg airport in Schönefeld, Germany
Apollo signalled that it would back easyJet’s current strategy and management and was not looking to break up the company. Photograph: Lisi Niesner/Reuters

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 £7.15 a share, to shareholders.

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