easyJet sets Friday deadline for Castlelake and Apollo bids

A major deadline in the battle for control of easyJet has been extended, giving two rival U.S. investment firms until the end of the week to formalize their takeover bids for the British budget airline. The company announced on Monday, August 3, 2026, that it has aligned the deadlines for both Castlelake and Apollo to 5:00 p.m. on Friday, August 7.

The move extends a deadline for Castlelake, which was originally set for Monday, to match the timeline for Apollo. Both firms are now required to announce a firm intention to make an offer for easyJet by that time or walk away. The airline stated that the announcement was made without the consent of either potential buyer and stressed there is no certainty a formal offer will materialize, advising shareholders to take no action.

This development follows a rapid sequence of events that began in late July. The easyJet board initially agreed to a takeover proposal from Castlelake valued at approximately 5.5 billion pounds. However, just days later, the airline accepted a rival proposal from Apollo Global Management worth 5.7 billion pounds. Apollo's offer of 7.15 pounds per share represents a 73 percent premium to easyJet's closing share...