EasyJet’s board has agreed in principle to a £5.7 billion takeover offer from Apollo Global Management, valuing the carrier at £7.15 per share and surpassing Castlelake’s earlier £6.90 bid by 3.6%. The airline is now “no longer minded” to recommend Castlelake’s proposal, declaring Apollo’s offer a superior outcome for shareholders. Both US firms face strict UK Takeover Panel deadlines: Castlelake must submit a firm offer or withdraw by 3 August 2026, while Apollo’s deadline is 7 August 2026. The deal would delist EasyJet from the London Stock Exchange, marking one of Europe’s largest recent airline buyouts. Shares surged 13–15% on the news, reaching a four-year peak, though no binding agreement exists yet.