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Apollo Agrees £5.7B Takeover of EasyJet as Board Withdraws Support for Castlelake

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.
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