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EasyJet weighs $7.7 billion Apollo offer as Castlelake submits rival bid for budget carrier

LONDON, July 17. A $7.7 billion takeover offer from Apollo has reached easyJet, with Castlelake also submitting a competing bid for the budget carrier, according to reports. A bidding war for the airline is underway.

By Julian Merrick2 min read
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Key takeaways

  • A $7.7 billion takeover offer from Apollo has been made for budget carrier easyJet.
  • Castlelake has submitted a rival takeover bid for easyJet, though its price was not disclosed.
  • EasyJet is weighing both proposals and has not publicly named a preferred acquirer.
  • Neither offer has been accepted, and Apollo's $7.7 billion is the only publicly disclosed valuation in the contest.

LONDON, July 17. A $7.7 billion takeover offer from Apollo has reached easyJet, with Castlelake also submitting a competing bid for the budget carrier, according to reports. A bidding war for the airline is underway.

Two competing offers on the table

Both Apollo and Castlelake have submitted formal takeover proposals for easyJet. Apollo's offer is valued at $7.7 billion. Castlelake's bid price was not disclosed.

EasyJet is described as weighing both proposals. The airline has not publicly named a preferred acquirer.

Bidding war takes shape

Two separate firms have now formally bid for easyJet. Neither offer has been accepted, according to reports. Apollo's $7.7 billion figure stands as the only publicly disclosed valuation in the contest.

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Frequently asked

How much is Apollo's offer for easyJet?

Apollo's takeover offer for easyJet is valued at $7.7 billion.

Who else has bid for easyJet besides Apollo?

Castlelake has also submitted a formal takeover proposal for easyJet, but its bid price was not disclosed.

Has easyJet accepted either offer?

No, neither offer has been accepted, and easyJet has not publicly named a preferred acquirer as it weighs both proposals.

What is the only disclosed valuation in the bidding war?

Apollo's $7.7 billion figure is the only publicly disclosed valuation in the contest.