EasyJet accepts unexpected acquisition offer as competing US company moves in swiftly
Budget carrier EasyJet has announced that it has reached an agreement in principle on a £5.7bn takeover approach from US private equity group Apollo Global Management, only days after backing a proposal from a competing bidder. The airline stated that Apollo’s proposal offered “a superior outcome” for shareholders compared with the earlier bid from US investment firm Castlelake, which EasyJet had provisionally supported over the weekend. EasyJet ranks among Europe’s biggest airlines. It employs
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