India, Aug. 6 -- easyJet plc (EZJ) on Thursday said it has agreed to a takeover by Apollo Global Management in a deal valuing the U.K. budget airline at about £5.7 billion ($7.7 billion), after rival bidder Castlelake withdrew from the acquisition process.
Under the terms of the agreement, easyJet shareholders will receive £7.15 per share in cash, representing a 54% premium to the airline's closing share price on February 27, before takeover interest emerged.
The transaction is expected to close by the end of the first quarter of 2027, subject to shareholder and regulatory approvals.
Apollo said it would support easyJet's current strategy and long-term growth plans while retaining the airline's U.K. and EU headquarters.
To com...