easyJet plc’s board has agreed in principle to a £5.7 billion takeover from Apollo Global Management, withdrawing support for Castlelake’s £5.2bn–£5.5bn bid after Apollo offered £7.15 per share in cash versus Castlelake’s £6.90. The all-cash deal would delist easyJet from the London Stock Exchange, delivering a 71% premium to the 29 May closing price of 399p. Apollo’s surprise gatecrash disrupts Castlelake’s advancing fifth bid, which the board had initially backed on 5 July. Completion hinges on UK Takeover Code firm intention filings, EU aviation ownership compliance capping non-European stakes at 49.9%, and shareholder approval, with earliest realistic delivery in H1 2027.