easyJet plc, Bidco extend deadline for publication of Scheme Document associated with acquisition
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Background ✨
easyJet’s board previously agreed terms for a recommended all-cash acquisition by Apollo Global Management subsidiary Bidco, valuing easyJet at about GBP5.7 billion (GBP7.15 per share) and to be implemented via a court-approved scheme of arrangement.1 Apollo and Bidco said it did not intend material headcount reductions in the 12 months after the deal became effective, and the transaction remained subject to regulatory approvals with closing expected by end-1Q2027.1 easyJet founder Sir Stelios Haji-Ioannou backed the recommended offer and provided irrevocable undertakings for the family’s 15.31% stake, electing the unlisted share alternative.2 JLS Consulting director John Strickland said Apollo wanted “more of the same” strategy, enabling longer-term development away from stock market scrutiny.3