Apollo agrees to £5.7bn recommended offer for EasyJet after Castlelake drops out

Apollo Management has reached an agreement for a £5.7 billion takeover of EasyJet, following the withdrawal of Castlelake from the bidding process. The deadline for Apollo and Castlelake to formally express interest was set for August 7th. Shortly after, Castlelake announced it would not proceed with a formal bid for the UK budget airline. This decision leaves Apollo as the sole remaining bidder pursuing the acquisition. The recommended offer represents a significant investment in EasyJet’s future operations.