EasyJet agrees £5.7bn take-over by US private equity firm Apollo

EasyJet has finalized its agreement to be acquired by Apollo Global Management for a staggering £5.7 billion. This takeover was confirmed by the airline on Thursday, following the withdrawal of Castlelake from the bidding process. The deal establishes an offer valued at £7.15 per share for EasyJet. Previously, rival bidder Castlelake had entered the competition, creating a potential bidding war amongst interested parties. This acquisition marks a significant shift in ownership for the British low-cost carrier.