Apollo Global Management has agreed to buy easyJet in a £5.7 billion cash deal through its acquisition vehicle Eagle Bidco, after the airline’s board accepted the offer and rival bidder Castlelake withdrew from the process. The recommended acquisition values easyJet shares at £7.15 each and ends a takeover contest for one of Europe’s largest low-cost carriers.
easyJet shareholders are set to receive a premium of about 54% to the airline’s closing price on 27 February 2026. The transaction values the carrier at roughly $7.7 billion, or about €6.6 billion to €6.7 billion depending on the exchange rate used, and remains subject to shareholder approval and regulatory clearances under a UK scheme of arrangement.
The ownership structure is designed to comply with EU airline foreign-ownership limits, with Apollo capped at 49.9% and an EU trust holding up to 5%. The companies expect completion by the end of the first quarter of 2027, and the board viewed the terms as fair and reasonable in a joint statement.