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 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. The deal values EasyJet at £7.15 per share and is expected to close by the end of March 2027.
- EasyJet agrees to £5.7bn ($7.7B) takeover by Apollo Global Management
- Rival bidder Castlelake withdraws without giving a reason
- Deal values EasyJet at £7.15 per share, an 81% premium over May's closing price
- EasyJet founder Stelios Haji-Ioannou and family to retain significant stake
- Transaction expected to complete by the end of March 2027
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▼Source Claims Check
1 Difference FoundAll 3 publishers report consistent facts across 2 key claims. 1 point of difference noted.
| Claim | Status | Reason | |
|---|---|---|---|
| Share Price Premium | 1 Difference | Reuters and CNBC report different premium percentages. | ▼ |
| Takeover Amount | Broad Agreement | $7.7 billion takeover of EasyJet by Apollo Global Management. | |
| Shareholder Retention | Broad Agreement | Shareholders can sell or transfer up to 49.9% of their shares. |
Share Price Premium
▼Reuters and CNBC report different premium percentages.
Takeover Amount
Broad Agreement$7.7 billion takeover of EasyJet by Apollo Global Management.
Shareholder Retention
Broad AgreementShareholders can sell or transfer up to 49.9% of their shares.
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.
How this summary was created
This summary synthesizes reporting from 3 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.