Easyjet awaits binding Apollo offer by early August

LUTON - US investment firm Apollo Global Management has agreed in principle the key terms of a possible cash takeover offer for British low-cost airline Easyjet, valuing the company at about 5.7 billion GBP - Easyjet signals support for the offer.

The Apollo offer represented a more attractive outcome than a previous proposal from rival private equity firm Castlelake, according to Easyjet filings. Apollo valued Easyjet nearly four percent higher than Castlelake.

The proposal from Apollo, made on behalf of its managed investment funds, remains subject to due diligence, final documentation and other conditions.

The company has yet to make a formal firm offer under UK takeover rules, and there is no certainty that a deal will proceed. Under the UK Takeover Code, Apollo must either announce a firm intention to make an offer or walk away by 7 August 2026, unless the deadline is extended.

Apollo’s move intensified a takeover battle for one of Europe’s largest budget airlines. Castlelake mulls a new offer but has jet to make a decision.