Apollo Global Management Agrees easyJet Acquisition in £5.7 Billion Deal

Apollo Global Management, the US investment fund, has agreed to acquire British airline easyJet. The deal, executed through Eagle Bidco Ltd, values the company’s share capital at about £5.7 billion, or roughly US$7.68 billion at the prevailing exchange rate.

The agreement was confirmed alongside an official statement from Castlelake, L.P., which said it would not submit a formal bid for the airline. The US firm had opened discussions in July 2026 and considered an offer of £6.90 per share, but withdrew from the process after Apollo put forward a higher proposal. As reported by Aviacionline, an AEROIN partner, Castlelake is now subject to the restrictions of Rule 2.8 of the UK Takeover Code, although it retains the right to re-enter if Apollo’s offer does not complete or if there is a material change in easyJet’s circumstances.

Apollo Global Management’s easyJet acquisition offer

The offer endorsed by easyJet’s board provides £7.15 in cash for each share. This amounts to an 81% premium on the £3.94 price at which the shares traded before the talks became public, and is also 54% above the share price at the end of February 2026, before the conflict in the Middle East began.

Shareholder securities alternative

Eligible shareholders may choose an alternative involving unlisted securities. Under the proposal, existing shares can be exchanged on a one-for-one basis for securities in the new indirect holding company. This option is capped at 49.9% of the issued share capital, ensuring compliance with European and UK rules on airline ownership and control.