Apollo Global Management will purchase easyJet Group at GBP7.15 pounds (USD9.63) per share in cash, the company announced shortly after Castlelake withdrew its bid to buy the company, leaving Apollo as the only bidder in the takeover process. Apollo's offer values easyJet at GBP5.7 billion (USD7.7 billion).

easyJet's shareholders may choose a cash offer through Apollo-linked Eagle Bidco Ltd. Alternatively, they may decide to receive shares in Bidco parent Topco, based on a one-to-one ration with their current easyJet holdings.

The transaction is expected to complete by the end of the first quarter of 2027 and easyJet's board has recommended that shareholders vote in favour of the scheme.

Previously, easyJet extended Castlelake’s firm takeover bid deadline to match Apollo’s, which was scheduled to end on August 7, 2026. Castlelake’s bid had been for GBP5.2 billion (USD7 billion). The investment firm said it was "very appreciative of the constructive engagement with the easyJet Board and management team."