easyJet has agreed in principle to a £5.7 billion takeover approach from Apollo Global Management, surpassing Castlelake’s rival bid. Apollo’s offer of £7.15 per share exceeds Castlelake’s £6.90 per share proposal, triggering potential bidding war dynamics under UK takeover rules. The deal, announced 10 July 2026 in London, reshapes Europe’s aviation sector with Apollo signaling strong investor confidence in easyJet’s growth. Castlelake retains until 3 August 2026 to finalize or withdraw its offer, while regulatory clearance—particularly EU ownership requirements—remains a key hurdle. The valuation reflects easyJet’s equity value of ~£5.23 billion, rising to £5.52 billion on a fully diluted basis.