Apollo Offers $7.7 Billion for EasyJet, Beating Castlelake Rival Bid
Apollo Global Management has made a £5.7 billion ($7.7 billion) cash offer to acquire easyJet, setting a per-share price of £7.15 ($9.61). The proposal directly counters an existing bid from Castlelake.
The announcement sent the budget carrier’s stock sharply higher on Friday, setting up a potential bidding contest between the two investors. easyJet is reviewing the offer to determine its next steps.
From the sources (4 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