easyJet takeover battle intensifies, Apollo 77billion-dollar offer
7month 10day, as U.S. private equity firms Apollo and Castlelake competed to acquire easyJet, its stock rose intraday by 13%. Apollo was reported to be ahead with an offer worth 77billion dollars.
7month 10day (local time), shares of U.K. low-cost airline easyJet rose intraday by 13% following news of acquisition proposals from U.S. private equity firms Apollo and Castlelake. For investors, this is an event that could immediately affect the ownership structure and share price.
The two private equity firms have expressed their intention to acquire easyJet. Apollo is reportedly ahead of its rival's offer.
Apollo's offer was reported to be worth 77billion dollars. Specific transaction terms and the financing method have not yet been disclosed.
easyJet said it was reviewing the submitted proposal. The company is currently listed and is conducting a board review process.
This acquisition proposal is the second offer from a U.S. private equity firm. The possibility of additional offers has also been raised.
The market reacted immediately when the news emerged. 7month 10day, the share price rose during intraday trading by 13%, and trading volume also increased.
No official announcement has been made to date regarding whether the acquisition will be approved or when a final agreement will be signed. Investors and the market are awaiting the board's decision and further disclosures.
Sources: CNBC Top News,MarketWatch Top Stories
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