EasyJet has extended the deadline for formal takeover bids to this Friday, giving US private equity firm Castlelake a final window to outbid rival Apollo Global Management.
The move signals that the contest for the UK’s largest low-cost carrier remains unresolved, despite Apollo having secured an agreement in principle earlier in the process.
7 billion. This development marks a critical juncture in the takeover battle.
The airline’s board is seeking to maximize shareholder value by ensuring all interested parties have a fair opportunity to submit their best offers before a final decision is made.
By pushing the deadline to Friday, EasyJet is effectively inviting Castlelake to trump Apollo’s existing proposal, which values the airline at £5.7 billion.
This development marks a critical juncture in the takeover battle.
While Apollo had appeared to be the frontrunner following its initial agreement with the carrier, the extension suggests that Castlelake is actively pursuing a counter-bid.