easyJet’s board accepts a £5.7B cash bid from Apollo Global Management and withdraws support for Castlelake, sending shares higher.Apollo offers £7.15 per share, roughly an 81% premium to pre-bid levels, and has until early August under UK rules to firm or exit while negotiating a Stub Equity Alternative for shareholders.The deal must clear
EU ownership rules and licensing arrangements with
Stelios Haji-Ioannou’s
easyGroup as easyJet copes with rising jet fuel costs and a £377M half-year loss.