UK's easyJet Reaches Agreement in Principle on Apollo Bid

Corporate Action Impact 4

โดย Reuters·Read original

Summary · why it matters

UK budget airline easyJet has announced it has reached an agreement in principle on a 5.7 billion pound takeover proposal from Apollo Global. This comes just days after it had agreed in principle to a 5.5 billion pound proposal from Castlelake, which it has now rejected. Apollo's offer of around 7.15 pounds per share is about 3.6 percent higher than Castlelake's latest bid. Apollo must announce a firm offer by August 7, while Castlelake's deadline is August 3. In a joint statement, easyJet and Apollo said the all-cash acquisition proposal would deliver a more favourable outcome for shareholders.

EasyJet PLC ▲

Apollo Global Management LLC Class A ▲

Impact on stocks 2

Industrials▲ · 1 stocks

▲ PositiveCapitalrelevance

EasyJet reached a higher takeover agreement with Apollo, delivering more favorable outcome for shareholders.

Aging Population▲ · 1 stocks

Apollo Global Management LLC Class A

▲ PositiveCapitalrelevance

Apollo's takeover bid for easyJet is a major M&A deal, potentially expanding its portfolio.

Off-coverage companies 1

CastlelakePrivate▼ Negative

Competitionrelevance

Castlelake's lower bid was rejected in favor of Apollo's higher offer, losing the acquisition.