EasyJet set for £5.7bn Apollo takeover after rival bidder Castlelake walks away

EasyJet is to be bought by private equity firm Apollo in a £5.7 billion deal after rival suitor Castlelake walked away from a bidding war for the budget airline.

Budget Carrier easyJet Agrees to $7.68 Billion Takeover by Apollo  WSJ

The British low-cost airline confirmed the £5.7 billion sale. The deal is expected to be completed by the end of the first quarter of next year, it added.

The British low-cost airline confirmed the £5.7 billion sale. The deal is expected to be completed by the end of the first quarter of next year, it added.

EasyJet agrees $7.7 billion takeover by Apollo as Castlelake walks away  Reuters

The move will see the US firm, which also owns Wagamama-owner The Restaurant Group, pay shareholders 715p per share for the business.

The move will see the US firm, which also owns Wagamama-owner The Restaurant Group, pay shareholders 715p per share for the business.

The move will see the US firm, which also owns Wagamama-owner The Restaurant Group, pay shareholders 715p per share for the business.

Easyjet has agreed a £5.7bn takeover deal with Apollo after rival bidder Castlelake pulled out of the bidding process. In a joint announcement with the low-cost airline on Thursday, the American private markets juggernaut said it had “reached an agreement on the terms and conditions of a recommended cash acquisition”.

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

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

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.