Easyjet heading to Apollo after Castlelake withdraws

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. “Castlelak

Two US private capital groups had vied to buy low-cost carrier

The no-frills carrier agrees to be bought by US firm Apollo after a rival suitor drops out.

EasyJet shares tumbled Thursday after Castlelake said it would not be bidding for the U.K. airline.

Easyjet is set to be taken over by private equity giant Apollo after its main rival pulled out of a long-running bidding war for the budget airline.

Two US private capital groups had vied for months to buy low-cost carrier

easyJet Extends Castlelake’s Deadline to Top Apollo’s $7.6 Billion Bid  WSJ