Thursday 06 August 2026 2:38 pm
Easyjet accepted the bid from Apollo (Gareth Fuller/PA Wire)
Apollo has moved one step closer to taking control of Easyjet after rival bidder Castlelake pulled out of the bidding process.The American private equity juggernaut said on Thursday it did “not intend to make an offer” for the low-cost airline, bringing an end to a takeover tussle between the two investors.“Castlelake is very appreciative of the constructive engagement with the Easyjet board and management team,” the group said, after confirming it would not make a firm bid for the orange-liveried carrier.Castlelake, a $38bn alternative investor headquartered in Minneapolis, had made a string of unsolicited offers for Easyjet between May and July, which were largely rebuffed by the airline’s board. Eventually it had preliminary offer of £5.5bn accepted, before being trumped by Apollo last month.This is a breaking news story. More to follow.
