Apollo Secures EasyJet With 7.15-Pound Bid That Tops Castlelake Offer

A US investment firm has won the contest to buy the British low-cost carrier after the board accepted a higher price than any previous proposal.

Apollo Global Management reached an agreement to purchase EasyJet for the equivalent of 6.6 billion euros, ending a bidding process that had stretched across several weeks and multiple rounds of offers. The deal values the airline at 7.15 pounds per share, a figure that exceeded the 6.90-pound proposal submitted by rival bidder Castlelake.

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