easyJet takeover thrown wide open by rival $7.6 billion US offer
Just as the takeover of easyJet by Castlelake appeared to be a done deal, a rival offer from US private equity firm Apollo has thrown the situation wide open.
On July 10, 2026, easyJet told its shareholders that an “agreement in principle” had been reached with Apollo to buy the airline for $7.6 billion (£5.7 billion).
The low-cost-carrier said the offer “delivers a superior outcome” for easyJet shareholders from that offered by investment firm Castlelake, as submitted on July 4, 2026.
The Apollo offer means that shareholders would be entitled to receive $9.59 (£7.15) per easyJet share, while Castlelake only promised $9.26 (£6.90) per share.
easyJet clarified that today’s announcement does not amount to a firm intention from Apollo to make an offer.
London Gatwick AirportBy no later than 17:00 on August 7, 2026, Apollo must either announce the firm intention to make an offer for easyJet or else declare that it does not intend to do so.
Castlelake’s bid to take over easyJet was priced at $6.9 billion (£5.2 billion). It now remains to be seen whether the company will come back with a stronger proposal.
easyJet finally accepted Castlelake’s offer on the fifth occasion, with the firm given until August 3, 2026, to present its formal offer.
According to the easyJet investor statement on July 10, 2026, Apollo regards the airline as one of the “most attractive businesses in global aviation,” with “significant long-term growth potential”.
“Apollo believes in easyJet’s existing strategy of evolving and strengthening the low-cost carrier model, most notably through up gauging the fleet, enhancing the ancillary and loyalty offering, and scaling Holidays into a structurally differentiated earnings stream,” the statement read.
In early 2025, Apollo sold its remaining shares in Sun Country Airlines, having acquired the US carrier in 2027. Apollo has also made prior investments in Aeroméxico, Atlas Air and Virgin Atlantic.
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The post easyJet takeover thrown wide open by rival $7.6 billion US offer appeared first on AeroTime.
Just as the takeover of easyJet by Castlelake appeared to be a done deal, a rival offer from…
The post easyJet takeover thrown wide open by rival $7.6 billion US offer appeared first on AeroTime.
