{"id":2036845,"date":"2026-07-10T08:56:36","date_gmt":"2026-07-10T05:56:36","guid":{"rendered":"https:\/\/analyse.optim.biz\/?p=2036845"},"modified":"2026-07-10T08:56:36","modified_gmt":"2026-07-10T05:56:36","slug":"apollo-hijacks-easyjet-takeover-with-5-7bn-bid-trumping-castlelake","status":"publish","type":"post","link":"https:\/\/analyse.optim.biz\/?p=2036845","title":{"rendered":"Apollo hijacks easyJet takeover with \u00a35.7bn bid, trumping Castlelake"},"content":{"rendered":"<p>[analyse_image type=&#8221;featured&#8221; src=&#8221;https:\/\/images.euronews.com\/articles\/stories\/09\/83\/30\/54\/1200x675_cmsv2_72953e32-2ed8-5736-88c6-0639db061402-9833054.jpg&#8221;]<\/p>\n<article id=\"abe-2908915-pos1-c-latest-stories\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 m-modeXL-1\" data-nid=\"2908915\" data-cid=\"9833776\" data-part-label=\"Partner content\">\n<figure id=\"abe-2908915-label-pos1-c-latest-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/83\/37\/76\/189x106_cmsv2_60215ec6-3d48-5a7f-a8f4-1f5ca7efe088-9833776.jpg\" loading=\"lazy\" alt=\"Oasis fans gather for the first reunion concert on 4 July 2025 in Cardiff \" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Travel News<\/p>\n<div class=\"the-media-object__title  \">\n<p>    Oasis and Glasto effect: A record year for UK music tourism in 2025\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2908782-pos2-c-latest-stories\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 m-modeXL-1\" data-nid=\"2908782\" data-cid=\"9833021\" data-part-label=\"Partner content\">\n<figure id=\"abe-2908782-label-pos2-c-latest-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/83\/30\/21\/189x106_cmsv2_5d23850f-c39b-5e40-b05f-eecb40c86e59-9833021.jpg\" loading=\"lazy\" alt=\"Burned vehicles following firebomb attacks that apparently targeted members of Greece&apos;s governing New Democracy party in Thessaloniki, 1 July, 2026\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Europe News<\/p>\n<div class=\"the-media-object__title  \">\n<p>    Greek anti-terror police arrest three after blast kills woman\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2908827-pos3-c-latest-stories\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 m-modeXL-1\" data-nid=\"2908827\" data-cid=\"9833367\" data-part-label=\"Partner content\">\n<figure id=\"abe-2908827-label-pos3-c-latest-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/83\/33\/67\/189x106_cmsv2_e7200982-f4a3-5037-9200-211aceadbdc5-9833367.jpg\" loading=\"lazy\" alt=\"Ukraine will soon be able to open a new accession cluster.\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Europe News<\/p>\n<div class=\"the-media-object__title  \">\n<p>    EU agrees to open new accession phase with Ukraine and Moldova\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2908897-pos4-c-latest-stories\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 m-modeXL-1\" data-nid=\"2908897\" data-cid=\"9833697\" data-part-label=\"Partner content\">\n<figure id=\"abe-2908897-label-pos4-c-latest-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/83\/36\/97\/189x106_cmsv2_d7e91da9-d775-57a2-bd4d-aae32c74f4da-9833697.jpg\" loading=\"lazy\" alt=\"A Reform UK political sign put up by the householder to show support ahead of local council elections in London, 6 May, 2026\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Europe News<\/p>\n<div class=\"the-media-object__title  \">\n<p>    Met Police investigating donations to Reform UK party, media says\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2908915-pos1-c-latest-stories-sidebar\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2\" data-nid=\"2908915\" data-cid=\"9833776\" data-part-label=\"Partner content\">\n<figure id=\"abe-2908915-label-pos1-c-latest-stories-sidebar\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/83\/37\/76\/189x106_cmsv2_60215ec6-3d48-5a7f-a8f4-1f5ca7efe088-9833776.jpg\" loading=\"lazy\" alt=\"Oasis fans gather for the first reunion concert on 4 July 2025 in Cardiff \" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Travel News<\/p>\n<div class=\"the-media-object__title  \">\n<p>    Oasis and Glasto effect: A record year for UK music tourism in 2025\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2908782-pos2-c-latest-stories-sidebar\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2\" data-nid=\"2908782\" data-cid=\"9833021\" data-part-label=\"Partner content\">\n<figure id=\"abe-2908782-label-pos2-c-latest-stories-sidebar\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/83\/30\/21\/189x106_cmsv2_5d23850f-c39b-5e40-b05f-eecb40c86e59-9833021.jpg\" loading=\"lazy\" alt=\"Burned vehicles following firebomb attacks that apparently targeted members of Greece&apos;s governing New Democracy party in Thessaloniki, 1 July, 2026\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Europe News<\/p>\n<div class=\"the-media-object__title  \">\n<p>    Greek anti-terror police arrest three after blast kills woman\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2908827-pos3-c-latest-stories-sidebar\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2\" data-nid=\"2908827\" data-cid=\"9833367\" data-part-label=\"Partner content\">\n<figure id=\"abe-2908827-label-pos3-c-latest-stories-sidebar\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/83\/33\/67\/189x106_cmsv2_e7200982-f4a3-5037-9200-211aceadbdc5-9833367.jpg\" loading=\"lazy\" alt=\"Ukraine will soon be able to open a new accession cluster.\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Europe News<\/p>\n<div class=\"the-media-object__title  \">\n<p>    EU agrees to open new accession phase with Ukraine and Moldova\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2908897-pos4-c-latest-stories-sidebar\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2\" data-nid=\"2908897\" data-cid=\"9833697\" data-part-label=\"Partner content\">\n<figure id=\"abe-2908897-label-pos4-c-latest-stories-sidebar\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/83\/36\/97\/189x106_cmsv2_d7e91da9-d775-57a2-bd4d-aae32c74f4da-9833697.jpg\" loading=\"lazy\" alt=\"A Reform UK political sign put up by the householder to show support ahead of local council elections in London, 6 May, 2026\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Europe News<\/p>\n<div class=\"the-media-object__title  \">\n<p>    Met Police investigating donations to Reform UK party, media says\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article class=\"helper-site-row o-article-newsy\">\n<div class=\"helper-site-container o-article-newsy__container\">\n<div class=\"o-article-newsy__main\">\n<header class=\"h-grid o-article-newsy__main__header\">\n<nav aria-label=\"Breadcrumbs\" class=\"c-article-breadcrumbs\">\n<div id=\"adb-article-breadcrumb\" class=\"c-article-breadcrumbs__list\">\n<p>                          Business<\/p>\n<p>                          Business<\/p><\/div>\n<\/nav>\n<h1 class=\"c-article-redesign-title\">\n                            Apollo hijacks easyJet takeover with \u00a35.7bn bid, trumping Castlelake<\/h1>\n<div class=\"c-article-image-video u-position-relative \">\n<div class=\"js-superdiv u-aspect-ratio-16x9 u-position-relative \" data-sponsored=\"Partner content\"><img fetchpriority=\"high\" decoding=\"async\" class=\"js-poster-img c-article-media__img\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/83\/30\/54\/1536x864_cmsv2_72953e32-2ed8-5736-88c6-0639db061402-9833054.jpg\" width=\"1536\" height=\"864\" loading=\"eager\" alt=\"FILE. Passengers board a London-bound EasyJet flight at Amsterdam&apos;s Schiphol airport, Netherlands, Nov. 2019\"><\/div>\n<div class=\"c-article-caption u-position-absolute\"><i id=\"article-caption-content\" class=\"c-article-caption__content\"><span class=\"c-article-caption__text\"><br \/>\n              FILE. Passengers board a London-bound EasyJet flight at Amsterdam&#8217;s Schiphol airport, Netherlands, Nov. 2019<br \/>\n                    <span class=\"u-color-white\">&#8211;\u00a0<\/span><span class=\"c-article-caption__copyright\">Copyright\u00a0<\/span><span class=\"c-article-caption__credit\">AP Photo\/Peter Dejong<\/span><\/span><\/i><\/div>\n<div class=\"c-article-image-copyright c-article-image-copyright--novideo\">\n      Copyright\u00a0AP Photo\/Peter Dejong\n  <\/div>\n<\/div>\n<\/header>\n<div class=\"h-grid o-article-newsy__main__body u-article-content\">\n<div class=\"o-article-newsy__contributors-publication-date\">\n<div class=\"c-article-contributors\">\n  By&amp;nbspQuirino Mealha\n<\/div>\n<div class=\"c-article-publication-date\" data-timestamp=\"1783673796\">\n                    Published on                 <time datetime=\"2026-07-10 10:56:36 +02:00\">10\/07\/2026 &#8211; 10:56 GMT+2<\/time><span class=\"c-article-publication-date__bullet\">\u2022<\/span>Updated<br \/>\n                                     <time datetime=\"15:50\">15:50<\/time><\/div>\n<\/div>\n<div class=\"c-article-share-comment u-align-items-center u-display-flex\"><span class=\"c-article-share-comment__links u-align-items-center u-display-flex u-justify-content-center js-c-article-share-comment-share\"><span class=\"c-article-share-comment__label\">Share<\/span><\/span><span class=\"c-article-share-comment__label\">Comments<\/span><span class=\"c-article-share-comment__label c-article-share-comment__label--always\">Add Euronews on Google<\/span><\/div>\n<div class=\"c-article-share-comment-popup-overlay js-c-article-share-comment-popup-overlay u-display-none\">\n<div id=\"js-c-article-share-comment-popup\" class=\"c-article-share-comment-popup js-c-article-share-comment-popup\">\n<div class=\"c-article-share-comment-popup__header u-display-flex\"><span>Share<\/span><img decoding=\"async\" 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class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-bluesky.svg\" width=\"24\" height=\"24\" alt=\"bluesky\" loading=\"lazy\"><span>Bluesky<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-bluesky.svg\" width=\"48\" height=\"48\" alt=\"bluesky\" class=\"u-show-for-desktop\" loading=\"lazy\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-threads.svg\" width=\"24\" height=\"24\" alt=\"threads\" loading=\"lazy\"><span>Threads<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-threads.svg\" width=\"48\" height=\"48\" alt=\"threads\" class=\"u-show-for-desktop\" loading=\"lazy\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-whatsapp.svg\" width=\"24\" height=\"24\" alt=\"whatsapp\" loading=\"lazy\"><span>Whatsapp<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-whatsapp.svg\" width=\"48\" height=\"48\" alt=\"whatsapp\" class=\"u-show-for-desktop\" loading=\"lazy\"><\/div>\n<div class=\"c-article-share-comment-popup__content__embed_container u-display-none\"><span class=\"c-article-share-comment-popup__content__embed__tooltip\"><br \/>\n                            Copy\/paste the article video embed link below:<br \/>\n                        <\/span><span class=\"c-article-share-comment-popup__content__embed u-display-flex\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/icon-copy-to-clipboard.svg\" width=\"16\" height=\"16\" alt=\"Copy to clipboard\" class=\"u-cursor-pointer js-c-article-share-comment-copy\" loading=\"lazy\"><span class=\"c-article-share-comment-popup__content__embed--success-copied u-display-none js-c-article-share-comment-video-embed-success-link-copied\"><br \/>\n                                Copied<br \/>\n                            <\/span><\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<h2 class=\"c-article-summary\">\n        The budget airline easyJet has swung behind a \u00a35.7 billion (\u20ac6.6bn) takeover proposal from the US private equity giant Apollo, abandoning its support for a rival American bidder days after agreeing to that offer.<br \/>\n    <\/h2>\n<div class=\"c-article-content c-article-content--business js-article-content\">\n<p>EasyJet said on Friday it had agreed in principle to Apollo Global Management&#8217;s cash offer of \u00a37.15 a share, worth about \u00a35.7 billion (\u20ac6.6bn), which the board judged a &#8220;superior outcome&#8221; for shareholders than the \u00a36.90 a share tabled by US private equity firm Castlelake.<\/p>\n<div>\n<div class=\"c-ad u-show-for-mobile-only\">\n<div class=\"c-ad__placeholder\"><img decoding=\"async\" class=\"c-ad__placeholder__logo\" src=\"https:\/\/static.euronews.com\/website\/images\/logos\/logo-euronews-stacked-outlined-72x72-grey-9.svg\" width=\"72\" height=\"72\" alt loading=\"lazy\"><span>ADVERTISEMENT<\/span><\/div>\n<\/div>\n<div class=\"c-ad u-show-for-desktop\">\n<div class=\"c-ad__placeholder\"><img decoding=\"async\" class=\"c-ad__placeholder__logo\" src=\"https:\/\/static.euronews.com\/website\/images\/logos\/logo-euronews-stacked-outlined-72x72-grey-9.svg\" width=\"72\" height=\"72\" alt loading=\"lazy\"><span>ADVERTISEMENT<\/span><\/div>\n<\/div>\n<\/div>\n<p>Having accepted Castlelake&#8217;s proposal only last Sunday, the Luton-based airline said it was &#8220;no longer minded to recommend&#8221; it.<\/p>\n<p>Investors welcomed the auction as easyJet shares climbed around 15% to roughly \u00a36.75 on Friday morning, their highest level since early 2022, though they remain below Apollo&#8217;s offer price.<\/p>\n<p>The bid represents an 81% premium to the \u00a33.94 at which easyJet closed on 28 May, the last trading day before Castlelake&#8217;s interest became public, a valuation that reflects how badly the airline had been beaten down. <\/p>\n<p>The conflict between the US and Iran sent jet fuel prices soaring and disrupted travel plans, with easyJet&#8217;s shares losing more than a third of their value before the takeover interest emerged.<\/p>\n<div class=\"c-widget-related\" data-stories-id data-event=\"widget_related\">\n<div class=\"c-widget-related__title\"><b class=\"c-widget-related__title__text\" lang=\"en\">Related<\/b><\/div>\n<ul class=\"c-widget-related__list\">\n<li class=\"c-widget-related__item\">EasyJet shares jump 10% as board backs Castlelake takeover proposal<\/li>\n<li class=\"c-widget-related__item\">EasyJet losses deepen as Iran war drives fuel costs higher and hits bookings<\/li>\n<\/ul>\n<\/div>\n<p>The damage showed in the accounts. <\/p>\n<p>In May the airline reported a headline loss after tax of \u00a3377 million (\u20ac442mn) for the six months to the end of March, 27% deeper than a year earlier, even as revenue grew 12% to \u00a33.95 billion (\u20ac4.6bn). <\/p>\n<p>It warned that the second half of the financial year would also be hit by higher fuel costs and reduced visibility over bookings, though CEO Kenton Jarvis said easyJet was &#8220;well placed&#8221; to weather the turbulence. <\/p>\n<p>Industry-wide, the International Air Transport Association warned last month that global airline profits are on course to halve this year. <\/p>\n<h2>The Brussels problem<\/h2>\n<p>The obstacle now facing both bidders sits in EU law, which requires airlines flying within the bloc to be majority-owned and effectively controlled by EU member states or qualifying European nationals.<\/p>\n<p>Castlelake had proposed to satisfy the rule by partnering with two Irish aviation executives, Peter Bellew and Mark Breen, who would have held a controlling stake through an EU-based company.<\/p>\n<p>Concern over such regulatory hurdles helps explain why easyJet&#8217;s shares have lagged the bid prices on offer. Apollo, for its part, says it will take &#8220;all necessary steps&#8221; to win merger clearance and any approvals relating to the EU&#8217;s Foreign Subsidies Regulation.<\/p>\n<p>Apollo has also promised to retain the easyJet name by extending the existing licence with easyGroup, the vehicle of founder Sir Stelios Haji-Ioannou, who with his family owns roughly 15% of the airline and collects a royalty on its revenue. <\/p>\n<p>That pledge may prove decisive in winning over the carrier&#8217;s most influential shareholder as neither offer is yet firm. <\/p>\n<p>Under British takeover rules, Castlelake must decide by 3 August whether to bid or withdraw, with Apollo facing a deadline of 7 August. <\/p>\n<p>Should a deal succeed, easyJet would leave the London Stock Exchange, joining the latest wave of British companies bought by foreign capital this year.<\/p>\n<\/div>\n<footer class=\"perf-cv-auto c-article-contributors c-article-contributors-supplementary u-margin-top-2 u-padding-top-2\">\n<p>Additional sources<strong> \u2022 AFP<\/strong><\/p>\n<\/footer>\n<p>                                  Go to accessibility shortcuts<\/p>\n<div class=\"c-article-share-comment u-align-items-center u-display-flex\"><span class=\"c-article-share-comment__links u-align-items-center u-display-flex u-justify-content-center js-c-article-share-comment-share\"><span class=\"c-article-share-comment__label\">Share<\/span><\/span><span class=\"c-article-share-comment__label\">Comments<\/span><span class=\"c-article-share-comment__label c-article-share-comment__label--always\">Add Euronews on Google<\/span><\/div>\n<div id=\"adb-article-you-might-also-like\" class=\"perf-cv-auto c-article-you-might-also-like\">\n<h2 class=\"c-article-you-might-also-like__title\">\n        Read more<br \/>\n      <\/h2>\n<div class=\"c-article-you-might-also-like__container\">\n<article id=\"abe-2908577-pos0-c-article-you-might-also-like__item\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 m-modeXL-1\" data-nid=\"2908577\" data-cid=\"9831910\" data-part-label=\"Partner content\">\n<figure id=\"abe-2908577-label-pos0-c-article-you-might-also-like__item\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/83\/19\/10\/480x270_cmsv2_f6d300c4-c8b7-533a-b5d5-20771bda0f7f-9831910.jpg\" loading=\"lazy\" alt=\"A South Korean bank clerk carries bundles of U.S. banknotes at a local bank in Seoul, Wednesday, Jan. 4, 2006. \" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Business<\/p>\n<h3 class=\"the-media-object__title  \">\n<p>    A new millionaire every 15 minutes in France: How does Europe compare?<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2908603-pos1-c-article-you-might-also-like__item\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 m-modeXL-1\" data-nid=\"2908603\" data-cid=\"9832200\" data-part-label=\"Partner content\">\n<figure id=\"abe-2908603-label-pos1-c-article-you-might-also-like__item\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/83\/22\/00\/480x270_cmsv2_8e14767a-ac44-5fd5-b7c3-685ee18ebaa1-9832200.jpg\" loading=\"lazy\" alt=\"A branch of BBVA bank in Spain, 15 August, 2014\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Business<\/p>\n<h3 class=\"the-media-object__title  \">\n<p>    Spain&#8217;s BBVA bank and former chairman to stand trial over spying<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2908793-pos2-c-article-you-might-also-like__item\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 m-modeXL-1 the-media-object--has-video\" data-nid=\"2908793\" data-cid=\"9833054\" data-part-label=\"Partner content\">\n<figure id=\"abe-2908793-label-pos2-c-article-you-might-also-like__item\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/83\/30\/54\/480x270_cmsv2_72953e32-2ed8-5736-88c6-0639db061402-9833054.jpg\" loading=\"lazy\" alt=\"FILE. Passengers board a London-bound EasyJet flight at Amsterdam&apos;s Schiphol airport, Netherlands, Nov. 2019\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Business<\/p>\n<h3 class=\"the-media-object__title  \">\n<p>    EasyJet backs Apollo&#8217;s \u00a35.7bn takeover bid over Castlelake<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<div class=\"perf-cv-auto\">\n<ul id=\"adb-article-tags\" class=\"c-tags-list\">\n<li class=\"c-tags-list__item\">\n<section class=\"tc-cta\" data-twig-component=\"Cta-default\">\n  EasyJet<br \/>\n<\/section>\n<\/li>\n<li class=\"c-tags-list__item\">\n<section class=\"tc-cta\" data-twig-component=\"Cta-default\">\n  Shares<br \/>\n<\/section>\n<\/li>\n<li class=\"c-tags-list__item\">\n<section class=\"tc-cta\" data-twig-component=\"Cta-default\">\n  Mergers and acquisitions<br \/>\n<\/section>\n<\/li>\n<li class=\"c-tags-list__item\">\n<section class=\"tc-cta\" 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Seoul, Wednesday, Jan. 4, 2006. \" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Business<\/p>\n<h3 class=\"the-media-object__title  \">\n<p>    A new millionaire every 15 minutes in France: How does Europe compare?<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2908603-pos1-c-article-you-might-also-like__item\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 m-modeXL-1\" data-nid=\"2908603\" data-cid=\"9832200\" data-part-label=\"Partner content\">\n<figure id=\"abe-2908603-label-pos1-c-article-you-might-also-like__item\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/83\/22\/00\/480x270_cmsv2_8e14767a-ac44-5fd5-b7c3-685ee18ebaa1-9832200.jpg\" loading=\"lazy\" alt=\"A branch of BBVA bank in Spain, 15 August, 2014\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n              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June 2025\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Global oil demand set for first annual drop since COVID, IEA says<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2908765-pos3-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2 the-media-object--has-video the-media-object--no-label\" data-nid=\"2908765\" data-cid=\"9832941\" data-part-label=\"Partner content\">\n<figure id=\"abe-2908765-label-pos3-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/83\/29\/41\/320x180_cmsv2_eaeac022-391a-577b-a720-86910204b539-9832941.jpg\" loading=\"lazy\" alt=\"Workers stage a protest in front of the Volkswagen plant in Zwickau, Germany, Thursday, 9 July 2026. \" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 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class=\"articleBody\" data-key=\"articleBody\">EasyJet said on Friday it had agreed in principle to Apollo Global Management&#8217;s cash offer of \u00a37.15 a share, worth about \u00a35.7 billion (\u20ac6.6bn), which the board judged a &#8220;superior outcome&#8221; for shareholders than the \u00a36.90 a share tabled by US private equity firm Castlelake.Having accepted Castlelake&#8217;s proposal only last Sunday, the Luton-based airline said it was &#8220;no longer minded to recommend&#8221; it.Investors welcomed the auction as easyJet shares climbed around 15% to roughly \u00a36.75 on Friday morning, their highest level since early 2022, though they remain below Apollo&#8217;s offer price.The bid represents an 81% premium to the \u00a33.94 at which easyJet closed on 28 May, the last trading day before Castlelake&#8217;s interest became public, a valuation that reflects how badly the airline had been beaten down.The conflict between the US and Iran sent jet fuel prices soaring and disrupted travel plans, with easyJet&#8217;s shares losing more than a third of their value before the takeover interest emerged.The damage showed in the accounts.In May the airline reported a headline loss after tax of \u00a3377 million (\u20ac442mn) for the six months to the end of March, 27% deeper than a year earlier, even as revenue grew 12% to \u00a33.95 billion (\u20ac4.6bn).It warned that the second half of the financial year would also be hit by higher fuel costs and reduced visibility over bookings, though CEO Kenton Jarvis said easyJet was &#8220;well placed&#8221; to weather the turbulence.Industry-wide, the International Air Transport Association warned last month that global airline profits are on course to halve this year.The Brussels problemThe obstacle now facing both bidders sits in EU law, which requires airlines flying within the bloc to be majority-owned and effectively controlled by EU member states or qualifying European nationals.Castlelake had proposed to satisfy the rule by partnering with two Irish aviation executives, Peter Bellew and Mark Breen, who would have held a controlling stake through an EU-based company.Concern over such regulatory hurdles helps explain why easyJet&#8217;s shares have lagged the bid prices on offer. Apollo, for its part, says it will take &#8220;all necessary steps&#8221; to win merger clearance and any approvals relating to the EU&#8217;s Foreign Subsidies Regulation.Apollo has also promised to retain the easyJet name by extending the existing licence with easyGroup, the vehicle of founder Sir Stelios Haji-Ioannou, who with his family owns roughly 15% of the airline and collects a royalty on its revenue.That pledge may prove decisive in winning over the carrier&#8217;s most influential shareholder as neither offer is yet firm.Under British takeover rules, Castlelake must decide by 3 August whether to bid or withdraw, with Apollo facing a deadline of 7 August.Should a deal succeed, easyJet would leave the London Stock Exchange, joining the latest wave of British companies bought by foreign capital this year.<\/div>\n<p>[analyse_source url=&#8221;https:\/\/www.euronews.com\/business\/2026\/07\/10\/apollo-hijacks-easyjet-takeover-with-57bn-bid-trumping-castlelake&#8221;]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[analyse_image type=&#8221;featured&#8221; src=&#8221;https:\/\/images.euronews.com\/articles\/stories\/09\/83\/30\/54\/1200x675_cmsv2_72953e32-2ed8-5736-88c6-0639db061402-9833054.jpg&#8221;] Travel News Oasis and Glasto effect: A record year for UK music tourism in 2025 Europe News Greek anti-terror police arrest three after blast kills woman Europe News EU agrees to open new accession phase with Ukraine and Moldova Europe News Met Police investigating donations to Reform UK party, media says Travel [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[90],"tags":[226,36],"class_list":["post-2036845","post","type-post","status-publish","format-standard","hentry","category-international","tag-crawlmanager","tag-euronews-com"],"_links":{"self":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts\/2036845","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2036845"}],"version-history":[{"count":0,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts\/2036845\/revisions"}],"wp:attachment":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2036845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2036845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2036845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}