EasyJet Aligns Apollo and Castlelake Bid Deadlines to August 7
easyJet has aligned the bid deadlines for potential acquirers Apollo Global Management and Castlelake LP, setting both firms' final decision dates for August 7. The U.K.'s Panel on Takeovers and Mergers approved an extension of Castlelake's initial deadline from August 3 to match Apollo’s existing date under takeover rules. Both bidders have had access to due diligence materials since their most recent proposals. The airline previously accepted a £5.5 billion cash offer from Apollo at £7.15 per share, while rejecting an earlier bid of £6.90 per share by Castlelake as less favorable. However, regulatory hurdles remain for Castlelake’s proposal under EU ownership rules requiring airlines operating within the bloc to be majority-owned and controlled by EU nationals. easyJet emphasized that no firm offer is guaranteed from either bidder and advised shareholders not to take action at this time.
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Topics: Apollo Global Management Castlelake LP EasyJet takeovers