EasyJet shifts support to Apollo after improved £5.7 billion takeover bid
The budget airline has withdrawn its support for a rival offer from Castlelake to pursue a new £5.7 billion proposal from US private equity firm Apollo.
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EasyJet has announced it is backing a £5.7 billion takeover proposal from the US private equity firm Apollo. This decision marks a significant change in direction for the budget airline, which is now abandoning its support for a rival bid from the investment firm Castlelake. The move comes only days after the airline had initially agreed to the Castlelake offer.
According to Euronews, the board has pivoted to the Apollo bid, which is valued at approximately €6.6 billion. The airline has not provided further details regarding the collapse of the previous agreement, nor has it outlined a timeline for the finalisation of the new proposed transaction.
Source: Euronews. Read the original report ↗
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This brief is based on reporting by Euronews.supports: Euronews