Jewish Billionaire Marc Rowan Offers bid of $7.7 Billion To Buy EasyJet, Starting A Major Airline Takeover Battle

EasyJet’s board said it plans to support Apollo’s higher offer of £7.15 per share and has withdrawn its earlier support for Castlelake’s £6.90 proposal. The announcement sent easyJet shares sharply higher.

EasyJet operates more than 350 airplanes and is one of Europe’s largest budget airlines. Its stock has struggled since the COVID-19 pandemic, but investors believe the airline still has major growth potential.

Apollo said it plans to keep easyJet’s main workers, continue upgrading its fleet and expand its vacation business. It also plans to keep the easyJet name through the airline’s current licensing agreement.

The deal could face European Union ownership rules requiring airlines to remain majority-owned by European investors. Apollo must make a final offer by August 7, while Castlelake has until August 3 to decide whether to raise its bid.