Apollo's £7.15 per share offer makes it front‑runner to acquire easyJet

Apollo Global Management has submitted a cash offer of £7.15 per share, valuing British low‑cost carrier easyJet at about £5.2 billion (€6.7 billion). The bid exceeds Castlelake’s previous £6.90 per share proposal, prompting easyJet’s board to withdraw support for the latter and state it would recommend the Apollo offer to shareholders.

Apollo must declare a firm offer by 7 August under UK takeover rules, while Castlelake faces an earlier 3 August deadline. The investor says it will retain the easyJet brand, keep management in place, and expand the airline’s fleet, holidays business and loyalty programme. The proposal will be examined by EU merger‑control authorities and the UK Competition and Markets Authority.

Since the start of the bidding war, easyJet’s share price has risen roughly 81 % since late May and jumped about 15 % on the news, reflecting strong investor interest in the transaction.