The airline aligns bid deadlines for both firms, requiring a firm offer or withdrawal by Friday under UK takeover rules.
EasyJet has set a unified deadline of 5 p.m. on August 7 for Apollo Global Management and Castlelake LP to declare a firm intention to make an offer or withdraw. The move follows an extension granted to Castlelake by the UK Panel on Takeovers and Mergers, aligning its deadline with Apollo’s unchanged timeline.
Apollo’s £7.15 per share cash proposal, valued at £5.5 billion, received in-principle board support on July 10, while Castlelake’s earlier £6.90 per share bid was no longer recommended. Both firms have accessed due diligence materials, but EasyJet cautioned that no firm offer is guaranteed.
Under UK takeover rules, the firms must now confirm their intentions by the deadline. EasyJet advised shareholders to refrain from action until further updates.