EasyJet shareholders back £5.7bn Apollo takeover deal
Summarised from 4 outlets · Updated 11 Nov, 19:13 · Archive
EasyJet shareholders have voted to approve a £5.7 billion takeover by US investment group Apollo, with 97.07 per cent voting in favour and 2.93 per cent against at a Wednesday shareholder meeting.
The Luton-based airline's board agreed in August to the sale at 715p per share. Apollo, which also owns The Restaurant Group, secured the deal after a bidding battle with fellow US investment firm Castlelake, which had proposed a £5.5 billion offer at 690p per share but withdrew from the contest in August.
The transaction will mark the end of EasyJet's 26-year listing on the London Stock Exchange and see the airline fall into US ownership. The deal is expected to complete by the end of March next year.
Sir Stelios Haji-Ioannou, who founded EasyJet in 1995 to offer a low-cost alternative to British Airways, and his family, who own just over 15 per cent of the business, have given their support to the takeover.
EasyJet chief executive Kenton Jarvis said the transaction is now 'over to the regulators'. He stated that Apollo supports the company's strategy and sees opportunities to accelerate it, and described the deal as 'a very good thing for the passengers'.
How it is being reported
- EasyJet takeover cleared for take-off by shareholders - but could regulators block Unilever's £50bn food mega-merger?EasyJet shareholders have given the green light to the airline's £5.7billion private equity takeover in a move paving the way for it to fall into US hands.This is Money · 11 Nov, 17:51
- EasyJet investors back £5.7bn takeover by ApolloThe carrier said 97.07% of shareholders voted in favour of the takeover by US investment group Apollo at a meeting of investors.Independent Business · 11 Nov, 12:57
- EasyJet investors back £5.7bn takeover by ApolloThe carrier said 97.07% of shareholders voted in favour of the takeover by US investment group Apollo at a meeting of investors.Evening Standard · 11 Nov, 12:57
- Easyjet ready for takeoff ahead of shareholder voteEasyjet shareholders are poised to wave through Apollo’s £5.7bn offer for the budget carrier, in a move that will confirm its departure from the London Stock Exchange after quarter of a century on the capital’s bourse. At a shareholder vote on Wednesday investors are likely to rubber stamp the transaction, three months on from the [...]City AM · 11 Nov, 04:00
In this story: EasyJet · Apollo · Castlelake · Sir Stelios Haji-Ioannou · Kenton Jarvis · London Stock Exchange · Luton
This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem · Corrections log
Comments (0)