News · 11 July 2026
Why are two US giants fighting over easyJet?
Unsplash / Viktor Forgacs
Because it got cheap: the Iran war's fuel spike crushed easyJet's shares, and now Apollo has agreed in principle a £5.7bn takeover at £7.15 a share, gazumping Castlelake's bid accepted only last Sunday. The board calls Apollo's offer a 'superior outcome' and shares jumped about 15% on Friday. Nothing is final until firm offers land by early August, and EU airline ownership rules still loom over both bidders.
Reported by CNBC · How we write briefs