EasyJet shareholders approve Apollo’s £5.7bn takeover

EasyJet shareholders approved Apollo’s £5.7 billion takeover of the airline on November 11, with 97.07% voting in favour and 2.93% against, according to the company. The vote clears a major step toward a transaction that would transfer easyJet into US ownership and end its London Stock Exchange listing, but the deal is not yet complete.

The agreed offer values easyJet at 715 pence per share. EasyJet and Apollo have said completion is expected by the end of March 2027; another account of the companies’ statement gives the timeframe as the first quarter of 2027. The transaction remains subject to court sanction and regulatory approval, including compliance with European Union airline-ownership requirements.

Under those rules, airlines must be majority-owned and controlled by European citizens. Apollo has proposed placing 5% of its stake in an EU trust, alongside the continued involvement of easyJet founder Stelios Haji-Ioannou, according to reporting on the plan. Whether the arrangements will satisfy regulators remains a condition for the takeover to proceed.

Apollo agreed the deal with easyJet’s board in August after competing with US investment firm Castlelake. Castlelake’s...