Apollo, a US private equity firm, has proposed a £5.7 billion takeover of easyJet, offering £7.15 per share. This bid surpasses Castlelake's previous offer of £6.90 per share, which had been set to take the airline private. EasyJet's board is inclined to recommend Apollo's offer to shareholders, highlighting its potential for greater shareholder value.
The deal represents a significant premium over easyJet's recent share prices, with Apollo committing to comply with EU ownership regulations. The outcome remains uncertain as Castlelake could still counter with a higher bid before the deadline on August 7.