EasyJet has agreed to a takeover by Apollo Global Management in a deal worth roughly £5.7 billion ($7.7bn), ending a three-month contest for the airline.
Apollo will pay £7.15 ($9.62) a share in cash, according to the terms published Thursday.
The low-cost airline is one of Europe’s largest, carrying more than 100 million customers a year across 37 countries. Apollo says it wants to accelerate the company’s existing plan rather than rewrite it, highlighting loyalty, ancillary revenue and its fast-growing EasyJet Holidays business as key priorities.
Rival U.S. bidder Castlelake confirmed earlier on Thursday it would not bid, follo
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