easyJet Agrees in Principle to $7.6 Billion Takeover by Apollo
The airline is withdrawing its recommendation for a prior proposal.
Business & Markets • 3 months ago
easyJet has agreed in principle to a takeover offer valued at approximately $7.6 billion from asset-management firm Apollo, the airline announced. This development marks a shift from a previous proposal, as easyJet stated it is withdrawing its recommendation for an earlier deal.
The company did not provide further details regarding the terms of the agreement with Apollo. The airline's decision to pursue the Apollo offer indicates a change in its strategic direction for a potential acquisition.