Ian Mcconnell

easyJet has become the target of a takeover battle as Apollo submitted a £5.7 billion bid that surpasses Castlelake’s earlier offer. The airline indicated it is now inclined to recommend Apollo’s 715p-per-share approach, withdrawing support for Castlelake’s 690p proposal. Analysts note that the contest may escalate as investors anticipate a higher valuation. Apollo emphasises its commitment to maintaining the easyJet brand, accelerating the carrier’s growth strategy and investing in its holidays division. Market reaction pushed easyJet shares sharply higher, and commentators suggest the competing bids highlight continued overseas interest in undervalued UK-listed companies.