Budget airline easyJet has formally accepted a £5.7 billion cash takeover bid from US private equity firm Apollo Global Management, following the withdrawal of rival bidder Castlelake.
Investment firm Castlelake's third bid for easyJet, valued at £4.7bn (625p/share), faces shareholder skepticism due to a wide gap with the current market price and concerns over the bid's structure and deliverability under EU ownership rules.
EasyJet's share price rose only 10% on a takeover approach from US fund Castlelake, prompting skepticism. Key factors for a potential deal include valuation, European ownership rules, and the stance of founder Sir Stelios Haji-Ioannou.
