EasyJet has formally agreed to a £5.7 billion ($7.7 billion) takeover by US private equity firm Apollo Global Management, according to reports from multiple sources including The Guardian, Reuters, and CNBC. The airline accepted the offer after rival bidder Castlelake withdrew its pursuit without providing a reason.
Key Takeaways
EasyJet has agreed to a £5.7 billion ($7.7 billion) takeover by US private equity firm Apollo Global Management after rival bidder Castlelake withdrew its offer without explanation. The deal values EasyJet at £7.15 per share, an 81% premium over its May 28 closing price, and is expected to close by the end of March 2027.
- EasyJet agrees to £5.7bn takeover by Apollo Global Management
- Deal valued at £7.15 per share, representing an 81% premium over May 28 closing price
- Founder Stelios Haji-Ioannou and family retain their shareholding in new ownership structure
- Shareholders can sell or transfer up to 49.9% of their shares; EU Trust retains up to 5%
- Apollo commits to retaining EasyJet's UK and EU head offices, supporting current strategy
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▼Source Claims Check
High ConsensusAll 4 publishers report consistent facts across 5 key claims.
| Claim | Status | Reason | |
|---|---|---|---|
| Takeover Amount | Broad Agreement | £5.7 billion ($7.7 billion) | |
| Share Price Premium | Broad Agreement | 81% over May 28 closing price | |
| Founder's Shareholding | Broad Agreement | Stelios Haji-Ioannou retains shares | |
| Eu Trust Shareholding | Broad Agreement | Up to 5% retained by EU Trust | |
| Apollo's Ownership Limit | Broad Agreement | 49.9% maximum for Apollo |
Takeover Amount
Broad Agreement£5.7 billion ($7.7 billion)
Share Price Premium
Broad Agreement81% over May 28 closing price
Founder's Shareholding
Broad AgreementStelios Haji-Ioannou retains shares
Eu Trust Shareholding
Broad AgreementUp to 5% retained by EU Trust
Apollo's Ownership Limit
Broad Agreement49.9% maximum for Apollo
This analysis is AI-generated and may not perfectly represent each source's reporting. Always read the original articles for full context.
The deal values EasyJet at £7.15 per share, representing an 81% premium over the airline's closing price on May 28, as reported by Reuters. The agreement was reached just hours before a deadline for final offers and is expected to close by the end of March 2027.
Under the terms of the deal, EasyJet founder Stelios Haji-Ioannou and his family will retain their shareholding in the new ownership structure. Shareholders have been offered the opportunity to sell or transfer up to a maximum of 49.9% of their shares. An “EU Trust” shareholding group will retain up to 5%, designed to comply with European Union foreign ownership rules for airlines, with Apollo limited to 49.9%.
Apollo has committed to retaining EasyJet’s UK and EU head offices and supporting the airline's current strategy. Alex van Hoek, Apollo's European private equity lead, expressed strong support for EasyJet's commitment to enhancing connectivity throughout Europe and the UK.
The Guardian, Reuters, and CNBC reported that both EasyJet and Apollo Global announced the deal on Thursday. Stelios Haji-Ioannou, in a separate statement, said he had carefully reviewed the proposal by Apollo and decided to support the recommended acquisition announced by the EasyJet board. The airline's board, advised by Evercore, unanimously recommended the cash offer, stating that it considered the terms fair and reasonable.
EasyJet shares have rallied more than 65% since the initial takeover interest was disclosed but were still trading below Apollo's offer price at 670p on the day of the announcement. Questions have been raised by investors and regulators about how Apollo will comply with European Union rules on airline ownership, given EasyJet's bases across the bloc.
How this summary was created
This summary synthesizes reporting from 4 independent publishers using AI. All sources are cited and linked below. NewsBalance is a news aggregator and media literacy tool, not a news publisher. AI-generated content may contain errors or inaccuracies — always verify important information with the original sources.