[REVISION HISTORY]

Apollo finalises £5.7bn easyJet acquisition

Updated 14 times since CLSTR started tracking revisions of this situation.

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2026-08-17 10:20 UTC → 2026-08-17 10:21 UTC · added ~~removed~~

On 6 August 2026, Apollo Global Management confirmed an all-cash offer of £7.15 per share for easyJet, valuing the carrier at approximately £5.7bn. This represents an 81% premium to the pre-announcement price and follows the withdrawal of rival bidder Castlelake. Prior to Apollo's confirmation, easyJet had extended the deadline for Castlelake to submit a binding offer to 7 August, though Apollo’s bid was noted as being higher than Castlelake’s £6.90 per share proposal. The deal, which targets completion by the end of Q1 2027, is subject to shareholder, court, and regulatory approvals in the UK, Austria, Egypt, and Germany. To comply with EU rules requiring majority European ownership, Apollo will hold up to 49.9% of the new holding company, while an EU-based trust may own up to 5% and the founder’s family retains a significant stake. Upon completion, easyJet will be delisted from the London Stock Exchange. Following the announcement, the easyJet board unanimously recommended the takeover. Under the proposed court-approved scheme of arrangement, shareholders may have the option to accept 715p per share in cash or roll over their shares into Apollo’s unlisted holding company on a 1:1 basis. Apollo has pledged to maintain the airline’s UK and EU headquarters, operating certificates, and workforce, with no job cuts planned for at least 12 months post-completion. The firm also intends to continue existing strategies regarding fleet modernisation and loyalty programs. Amidst the takeover proceedings, easyJet reported a 70% plunge in second-quarter pre-tax profits, falling to £85m from £286m the previous year, largely due to a £105m increase in fuel expenses from Middle East hostilities. Additionally, speculation has emerged regarding potential strategic cooperation between easyJet and Air France-KLM, including possible codeshare or interline agreements starting in 2027.

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