EasyJet (EZJ) Agrees to £5.7bn Apollo Takeover Bid

EasyJet (EZJ) has agreed in principle to a £5.7 billion takeover offer from Apollo Management, offering £7.15 per share, compared to Castlelake's £6.90 per share proposal. The company noted that Apollo's offer is a superior outcome for investors. This agreement follows a $5.2 billion agreement in principle with Castlelake. The deadline for Apollo to make a firm bid is set for August 7, while Castlelake's deadline is August 3. This matters for investors as it may lead to an improved valuation of EasyJet shares amidst takeover activities.