Overview
- Investors backed Apollo’s 715p-per-share offer with 97.07% voting in favour, giving the private-equity bidder the shareholder approval it needed to move the deal toward completion.
- The takeover values EasyJet at £5.7bn and was recommended by the board after a bidding contest that saw rival Castlelake earlier make a lower proposal.
- EU rules require airlines to be majority-owned and controlled by European citizens, so the transaction still needs regulatory clearance from Brussels before it can close.
- EasyJet and Apollo target completion by the end of March 2027 subject to customary conditions, and Apollo has proposed steps such as retaining founder Sir Stelios and an EU trust to address ownership tests.
- Short-term personnel moves have been reported before completion while Apollo has pledged not to cut jobs for one year after closing, a contrast that raises questions about costs, dividends and governance under private ownership.