Apollo Global Management has submitted an all-cash takeover offer for EasyJet at approximately 714-715 pence per share, valuing the British low-cost carrier at around £5.7 billion. EasyJet's board has indicated it is willing to recommend the Apollo bid, which supersedes an earlier agreement in principle reached with rival private equity firm Castlelake at 690 pence per share. The competing offers confirm an active bidding contest for the airline.
EasyJet shareholders are looking at a significant cash premium above recent trading prices, and the board's willingness to recommend means a deal is likely to proceed barring a higher counter-offer. For investors in European low-cost aviation broadly, this signals private equity sees deep value in the sector — which could lift peer valuations. The all-cash structure means no dilution risk and a clean exit for existing holders.
Regulatory review timeline (UK CMA clearance expected within weeks of formal offer): watch for a formal firm offer announcement under UK Takeover Panel rules, which must come within 28 days of the board recommendation. Also watch for any counter-bid from Castlelake or a third party in the near term.
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