EasyJet, Apollo delay shareholder document on £5.7bn takeover bid

EasyJet and Apollo Management have pushed back the deadline for sending shareholders a document tied to Apollo's proposed takeover of the UK carrier. The companies said the delay would give more time for talks with aviation regulators.

Apollo, through a vehicle called Eagle Bidco, agreed on 6 August to a recommended offer for EasyJet valued at roughly £5.7 billion, or about $7.8 billion. The deal emerged after a rival bidder, Castlelake, withdrew from consideration.

Under the original timeline, EasyJet and Apollo had said a scheme document, along with notices for a court meeting and a general meeting, would reach shareholders within 28 days of the agreement. That has changed. In a stock exchange notice dated 25 August, EasyJet said the boards of both companies had agreed to move the deadline to on or before 15 October 2026.

EasyJet said the extension is meant to support continued engagement with relevant aviation regulators following the summer period, ahead of the document's eventual publication. A takeover panel, the company said, had granted consent for the extension.

The court meeting and general meeting are now expected around the week beginning 9 November. Both sides continue to expect the acquisition to close by the end of the first quarter of 2027, unchanged from earlier guidance.

The notice did not disclose further financial terms of the offer.