US private equity firm Apollo has agreed to acquire British budget airline easyJet in a cash deal valued at £5.7bn (approximately $7.7bn), according to reporting on 10 July 2026. Apollo's offer, priced at 715 pence per share, surpasses a competing proposal from rival investment firm Castlelake, which had tabled a bid of £6.90 per share on 4 July 2026. EasyJet is currently evaluating both proposals.
Apollo's 715 pence per share cash offer represents a premium over Castlelake's earlier £6.90 per share proposal, providing easyJet shareholders with a higher per-share cash value. The competing bids have triggered a potential bidding war for the UK carrier.
EasyJet, as the subject of the competing acquisition bids, sits at the centre of this transaction. Apollo Global Management, as the bidding acquirer, is directly party to the deal. This marks the second American private equity firm to submit a formal approach for the airline, indicating active consolidation interest in the European budget carrier sector.
EasyJet confirmed it is evaluating the competing takeover proposals from both Apollo and Castlelake. No regulatory determinations or official government statements regarding the proposed transaction have been reported in available sources as of 10 July 2026.
Sources: Guardian Business, Cnbc TOP, Bloomberg Markets, Marketwatch TOP