Apollo Global Management agreed to acquire easyJet in a $7.7 billion all-cash deal, ending a months-long bidding war after rival Castlelake withdrew its final offer. Apollo will pay 715 pence per share, backing easyJet's current management strategy and long-term growth plans.
The acquisition gives Apollo control of one of Europe's leading low-cost airlines, with valuable assets including a modern Airbus A320 fleet, premium airport slots at capacity-constrained hubs such as London, Milan and Geneva, and a growing holiday package business. Shares of easyJet rose as much as 4.1%, though they continued to trade below the offer price, reflecting investor concerns over potential regulatory hurdles.
Because Apollo is a U.S.-based firm, the transaction has been structured to comply with U.K. and EU airline ownership rules, which require majority ownership and effective control to remain with European investors.
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$ESYJY easyJet said Apollo’s offer provided a “better outcome” for shareholders, and that the board “no longer intends to recommend Castlelake’s offer.”
Under British regulations, Apollo has until August 7 to make a final binding offer or walk away from the deal.
After initially rejecting early offers, easyJet agreed to enter into negotiations in late June and gave Castlelake access to commercial information in the hope of securing a better offer.
$ESYJY Official news and a final decision on the deal between Apollo Global Management and easyJet are expected by 5:00 p.m. on August 7, 2026. The airline's board of directors has officially aligned the deadlines (the so-called "put up or shut up" deadline) for the two competing funds bidding for the company - Apollo and Castlelak
$ESYJY easyJet received a £5.7 billion buyout proposal from Apollo Global Management on 10 July 2026 with a final decision deadline set for 7 August 2026🔥🔥🔥🔥
$ESYJY easyJet has agreed in principle to a record takeover bid from US investment firm Apollo Global Management worth £5.7bn (£7.15 per share). The latest move sets off a full-blown bidding war for the British low-cost carrier, just days after the board was initially inclined to accept a lower offer from rival fund Castlelake.💥💥💥💥💥💥💥
EasyJet just took the fifth bid. Castlelake's £6.90 a share cash offer values the carrier around £5.2B, and the stock ripped over 11% to its highest since Feb 2022. $ESYJY pressing the recent high with real momentum. 📈 Deadline runs to Aug 3, nothing binding yet. 👀
EasyJet accepted in principle Castlelake's latest takeover proposal, valuing the U.K. low-cost carrier at about £5.2 billion ($6.9 billion). The cash offer of £6.90 per share is Castlelake's fifth bid and prompted EasyJet shares to jump more than 11%, reaching their highest level since February 2022.
The new proposal is about 6% higher than the previous £6.50-per-share bid, after earlier offers were rejected as "highly opportunistic." The companies have extended the deadline for a formal offer until Aug. 3, although EasyJet cautioned there is no certainty a binding deal will be reached.
Castlelake said it intends to support EasyJet's long-term growth and fleet modernization. As a U.S. investor, however, it cannot take full control of the airline under U.K. and EU ownership rules, meaning it will need a qualifying partner to complete the acquisition. The airline has recently faced pressure from higher jet fuel costs and weaker travel demand.
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