Apollo Global Management Ups the Ante with $7.7 Billion Bid for EasyJet

Apollo Global Management offers EasyJet a $7.7 billion cash takeover bid, surpassing a previous Castlelake proposal and sparking a new round of negotiations for the British budget airline.

In a bold move, Apollo Global Management has put forth a $7.7 billion cash takeover bid for EasyJet, outdoing a previous proposal by Castlelake and setting off a frenzy of speculation about the future of the British budget airline. This latest development comes on the heels of a tumultuous few weeks for EasyJet, which had previously been the subject of a $9.45 billion takeover bid by Castlelake, only to see that deal fall through. The new offer from Apollo Global Management, which values EasyJet at 7.15 pounds per share, has been agreed to in principle by the airline, marking a significant shift in the balance of power in the ongoing bidding war.

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