Apollo Lands EasyJet for £5.7 Billion, Outbidding Castlelake for the Budget Skies

The US private equity giant agreed to pay £7.15 per share for the British carrier, edging out a rival bid and putting a storied low-cost airline under new ownership.

A British budget airline that taught a generation of Europeans to fly for the price of a train ticket is about to get a new owner. EasyJet agreed on Thursday to a £5.7 billion takeover bid from Apollo Global Management, choosing the US private equity firm over a rival suitor after a week-long bidding war that valued the carrier's routes, slots, and brand at a premium. [1][2]

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