EasyJet agrees in principle to Apollo’s £5.7bn takeover proposal

EasyJet has agreed in principle to a £5.7bn takeover proposal from US firm Apollo Management, trumping a previous bid from US investment firm Castlelake, according to BBC. EasyJet said Apollo’s proposal would pay shareholders £7.15 per share, compared with £6.90 per share under the Castlelake offer. The airline said Apollo’s offer delivered “a superior outcome” for shareholders and it was “no longer minded” to recommend the Castlelake bid.