bbc_business

EasyJet agrees to £5.7bn takeover by US firm

📰 source: bbc_business · 💼 business

easyjet agreed to a £5.7bn takeover by us firm apollo, after a rival bidder dropped out. apollo will pay £7.15 per share, beating castlelake's final offer of £6.90.

easyjet is one of europe's largest airlines, with more than 19,000 employees and around 1,200 routes across 35 countries. it was founded by sir stelios haji-ioannou in 1995, with first flights from luton to glasgow and edinburgh in november that year.

apollo said it was 'highly supportive' of easyjet's strategy and saw 'a significant opportunity to accelerate the operational and commercial ambitions' of the group. easyjet ceo kenton jarvis welcomed apollo's commitment to the business and its people.

why it matters: apollo's £5.7bn swoop for easyjet values the carrier at £7.15 a share, signaling private equity appetite for european airlines.

source: bbc_business
sentiment: +0.40 · impact: 0.60

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