EasyJet agrees to Apollo's $7.6 billion bid

EasyJet, the British low-cost airline, announced that its board of directors has reached a provisional agreement with American investment group Apollo for a cash takeover bid valued at £5.7 billion ($7.6 billion), surpassing Castle Lake's offer of £6.90 per share. The proposed offer suggests shareholders will receive £7.15 per share, with an option to transfer their investments to the new entity. The offer is still under negotiation and has not been finalized yet. EasyJet's board prefers Apollo's offer as it provides higher value and aligns strategically, pending shareholder approval before completing the deal.

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