US private equity firm Apollo enters bidding war for easyJet with £5.7bn offer

AI Summary

US private equity firm Apollo has entered a bidding war for easyJet with a £5.7bn all-cash offer, which the airline's board is inclined to recommend. This move follows an earlier rival bid from Castlelake for the UK's low-cost carrier.

Airline’s board minded to recommend deal – after accepting rival one from Castlelake earlier this week The board of easyJet has given the green light to a possible £5.7bn offer from the US private equity firm Apollo, as the low-cost airline becomes the subject of a surprise bidding war. The company’s board said on Friday that it was “minded to recommend” the potential all-cash offer, which values the business at £7.15p a share, to shareholders. Continue reading...