AirlinesAug 7, 3:54 AM
Apollo Global Management Secures £5.7B Takeover of easyJet with No Immediate Job Cuts
easyJet has formally agreed to a £5.7 billion ($7.7 billion) takeover by US private equity giant Apollo Global Management , setting the stage for one of Europe's largest low-cost airlines to return to private ownership. Apollo's firm offer values easyJet at £7.15 ($9.63) per share, an 81% premium to the airline's £3.94 closing price on May 28, immediately before the takeover interest became public. The deal remains subject to shareholder, court, aviation, merger-control and foreign-investment approvals.