Apollo Raises $7.7 Billion Offer to Take easyJet Private, Beating Castlelake
Apollo Global Management has secured a cash takeover agreement to buy easyJet for $7.7 billion (£5.7 billion), beating a rival bid from Castlelake. Under the offer terms, easyJet shareholders will receive £7.15 ($9.61) per share, valuing the budget carrier at £5.7 billion.
The announcement triggered a rise in the airline’s stock on Friday, concluding a month-long bidding contest for the firm. The transaction will take the low-cost carrier private, marking the next stage for the British operator known for disrupting the budget aviation market.
From the sources (6 posts)
@firstsquawkApollo trumps Castlelake to reach £5.7bn deal to buy easyJet - FT
@businessEasyJet receives a fresh offer from Apollo that beats a rival proposal from Castlelake, setting up a possible surprise competition between the two investors
@cnbcEasyJet weighs $7.7 billion rival takeover offer from Apollo amid Castlelake interest
@cnbcEasyJet stock soared Friday after the budget carrier said it is considering a $7.7 billion takeover bid from Apollo Global Management. Under the terms of the cash offer, easyJet shareholders would be entitled to £7.15 ($9.61) per share of
@ftEasyJet: orange upstart that changed flying prepares to go private
@ftApollo has trumped Castlelake to secure an agreement to buy easyJet in a £5.7bn deal, in a last-minute twist in the month-long takeover battle for the low-cost airline. Read the full story here: