Apollo To Acquire EasyJet For £5.7 Bln After Castlelake Withdraws Bid

easyJet agreed to be taken over by Apollo Global Management in a deal valuing the U.K. budget airline at about £5.7B ($7.7B), after rival bidder Castlelake withdrew. The agreement marks a meaningful transaction headline for easyJet and is likely to move the stock on perceived deal certainty and valuation.

Analysis

easyJet agreed to be taken over by Apollo Global Management in a deal valuing the U.K. budget airline at about £5.7B ($7.7B), after rival bidder Castlelake withdrew. The agreement marks a meaningful transaction headline for easyJet and is likely to move the stock on perceived deal certainty and valuation.