easyJet shareholders approve Apollo’s £5.7 billion takeover bid

easyJet shareholders approved Apollo’s proposed £5.7 billion ($7.6 billion) takeover on November 11, 2026. The UK low-cost carrier expects the deal to close by the end of March 2027, subject to court and regulatory approvals. Completion would end easyJet’s London Stock Exchange listing after more than 25 years.

At a court-convened shareholder meeting, 97.07% of votes cast favored the takeover. At a separate general meeting, 96.67% of votes cast backed a resolution to implement the deal and amend easyJet’s articles of association.

Apollo’s cash offer values each easyJet share at £7.15. Shareholders can also elect to exchange their entire holding for unlisted shares in the new parent company.

Founder Sir Stelios Haji-Ioannou and his family, who together held about 15.3% of easyJet when the deal was announced, chose that option.

The vote followed a summer bidding contest between two US investment firms. In June, easyJet’s board rejected a £6.25-per-share offer from private equity firm Castlelake. Apollo and easyJet reached an agreement in principle at £7.15 per share on July 10. After Castlelake withdrew, easyJet’s board recommended Apollo’s offer on August 6.

At the general meeting, easyJet suspended voting rights on 233.9 million shares held by non-EU investors to comply with European ownership and control rules. EU investors held 35.07% of easyJet’s shares at the time of the meeting, the airline said.

Under the proposed ownership structure, Apollo’s funds would hold no more than 49.9% of the new parent company. Apollo has also committed to keeping easyJet’s headquarters in the UK and retaining its air operator certificates in the UK, Austria and Switzerland.The post easyJet shareholders approve Apollo’s £5.7 billion takeover bid appeared first on AeroTime.

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