Overview
- On Monday the UK Takeover Panel agreed to move Castlelake’s 'put up or shut up' deadline to Friday so it matches Apollo’s timetable, setting a 5pm August 7 cutoff for firm offers or withdrawals.
- EasyJet’s board remains set to recommend Apollo’s higher July proposal, which values the company at £7.15 per share after Apollo topped Castlelake’s earlier offer.
- The airline has been giving both bidders access to its books for due diligence as they weigh firm offers and each side faces unresolved regulatory questions about ownership arrangements.
- EasyJet reported a 70% drop in third‑quarter profit in late July even as takeover interest has lifted its shares by more than 40%, putting shareholder value and staff jobs at the center of any deal.
- A completed takeover would likely see EasyJet leave the London Stock Exchange and could prompt closer EU and UK scrutiny of foreign ownership while affecting major shareholders and the company’s UK ties.