Apollo on verge of taking control of Easyjet after Castlelake withdraws

Published Aug 6, 01:38 PM UTC

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Apollo Global Management is on the verge of taking control of low-cost airline Easyjet after rival bidder Castlelake withdrew from the bidding process. Castlelake, a $38bn alternative investor, announced on Thursday it did not intend to make an offer for the airline, ending a takeover battle that began in May. Castlelake had made several unsolicited offers, eventually securing a preliminary £5.5bn acceptance from Easyjet's board, but was later outbid by Apollo last month. The withdrawal clears the path for Apollo to finalize its acquisition of the orange-liveried carrier.

Source

City AMWestern

Original headline: Easyjet heading to Apollo after Castlelake withdraws

Original language: EN-GB

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Apollo set to acquire EasyJet after Castlelake withdraws rival bid

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