EasyJet bidding war as budget airline agrees to rival £5.7bn takeover bid

Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleEasyJet has agreed in principle to a £5.7 billion takeover offer from US private equity firm Apollo, valuing its shares at £7.15 each. This new agreement supersedes a previous offer from rival US investment firm Castlelake, which had valued EasyJet at £5.23 billion (£6.90 per share). EasyJet's board recommended Apollo's bid, stating it delivers a 'superior outcome' for shareholders due to its higher cash value. The low-cost carrier has become the subject of a bidding war between the two investment firms, potentially leading to its delisting from the London Stock Exchange and foreign ownership. Apollo, which has until August 7 to make a formal offer, has a significant portfolio of UK businesses, including parcel delivery company Evri and Wagamama owner The Restaurant Group. In fullEasyJet shares soar by 13% after it accepts takeover bid from US firmMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

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