easyJet officially accepts €6.6 billion takeover bid from US private equity firm Apollo
British budget airline easyJet confirmed on Thursday that it has accepted a £5.7 billion (€6.6 billion) takeover offer from US private equity firm Apollo Global Management.
British low-cost carrier easyJet announced on Thursday that it has formally accepted a £5.7 billion (approximately €6.6 billion) takeover bid from US private equity firm Apollo Global Management. In a statement, the boards said they were pleased to announce that agreement had been reached on the terms of a recommended cash acquisition. The offer price stands at £7.15 (around €8.35) in cash per easyJet share. The transaction is expected to be completed by the end of the first quarter of 2027.
The announcement came after rival bidder Castlelake decided to withdraw from the race to acquire the airline. easyJet was founded in 1995 by British-Cypriot entrepreneur Stelios Haji-Ioannou as a no-frills carrier offering low fares across Europe.
Under the terms of the takeover, Haji-Ioannou and his family will retain an equity stake in a new holding company, while Apollo's shareholding will be capped at up to 49.9% to comply with UK and European airline ownership regulations. An EU Trust will also hold up to 5% of shares.
easyJet's first flights operated from London Luton Airport, where the company is headquartered, to Glasgow and Edinburgh, with the first international routes to Amsterdam, Nice, and Barcelona launching in 1996. The airline has since grown into one of Europe's largest carriers, operating a fleet of more than 300 aircraft.
