EasyJet said it is considering a takeover bid from Apollo Global Management just days after the low-cost carrier entered a takeover agreement with investment firm Castlelake. File Photo by Hannibal Hanschke/EPA
July 10 (UPI) -- British airline EasyJet said on Friday it is considering a takeover bid worth $7.7 billion from an U.S. investment firm.
The bid from Apollo Global Management comes days after the low-cost carrier, one of Europe's largest, had said it entered a takeover agreement with investment firm Castlelake.
But Apollo is offering $9.6 per share, valuing the company at nearly $7.7 billion, compared to Castlelake's $9.2.
In a statement, EasyJet leadership said Apollo's bid "offers an attractive combination of value, strategic alignment and long-term stewardship of the business."
