easyJet board agrees to terms of cash acquisition by Apollo

easyJet announced (06-Aug-2026) its board reached an agreement with the board of Apollo Global Management subsidiary Bidco on the terms and conditions of a recommended cash acquisition by Bidco for the entire issued and to be issued share capital of easyJet for GBP7.15 (EUR8.35) per share, noting: "The Cash Offer values the entire issued, and to be issued, ordinary share capital of easyJet at approximately GBP5.7 billion (EUR6.65 billion)". The LCC reported: "The easyJet directors, who have been so advised by Evercore as to the financial terms of the cash offer, consider the terms of the cash offer to be fair and reasonable", adding: "Accordingly, the easyJet directors intend to unanimously recommend that easyJet shareholders vote (or procure voting) in favour of the Scheme at the Court Meeting and the Resolution at the General Meeting". easyJet stated: "It is intended that the acquisition will be implemented by way of a court-approved scheme of arrangement under Part 26 of the Companies Act", and reported its expects the acquisition to be completed by the end of 1Q2027. Apollo and Bidco clarified they "do not intend to make any headcount reductions in the 12 months following the acquisition becoming effective that will be material in the context of the easyJet Group". easyJet non executive chair Sir Stephen Hester commented: "The easyJet board has carefully evaluated the proposal from Apollo alongside easyJet's standalone prospects. While we remain confident in the strength of our business and the opportunities ahead, we believe this offer appropriately recognises the quality of the business we have built and delivers immediate, certain and attractive value for shareholders". [more - original PR]