easyJet shareholders have approved the airline’s £5.7 billion takeover by US private equity firm Apollo. The Luton-based carrier said 97.07% of votes cast at Wednesday’s shareholder meeting backed the deal. easyJet expects the transaction to close by the end of March 2027.
Apollo agreed to pay 715p per share in August after rival US investment firm Castlelake withdrew from the bidding. Castlelake had proposed 690p per share, valuing the airline at £5.5 billion. Founder Sir Stelios Haji-Ioannou and his family, who together own just over 15% of easyJet, backed Apollo’s offer. BBC News
Completion would end easyJet’s more than 26 years on the London stock market. Founded in 1995, the airline has grown into one of Europe’s largest low-cost carriers.
The BBC also reported that easyJet is consulting on proposals that could cut around 50 roles from its 2,300-strong head office team.
Source: BBC News