easyJet Board Endorses Apollo's £5.7 Billion Cash Offer, Ending Castlelake Pursuit

The UK carrier's directors have selected the private equity bid at 7.15 pounds per share after rejecting multiple earlier proposals from the rival bidder.

British low-cost carrier easyJet has moved toward a sale to Apollo Global Management after its board concluded that the US firm's £5.7 billion cash offer outranked the latest proposal from Castlelake. The recommendation marks the end of a bidding sequence in which easyJet repeatedly turned down lower valuations from the alternative suitor.

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