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Europe · Business news · Corporate · 10 Jul 2026

Apollo tops Castlelake with a £7.15-a-share, £5.7bn offer for easyJet; shares jump 14%

EU Industrials

What happened

US investment firm Apollo offered £7.15 a share for easyJet, valuing the airline at about £5.7 billion and beating the £6.90-a-share, £5.5 billion deal easyJet had agreed with Castlelake, a 3.6% improvement. EasyJet's board said it was inclined to back Apollo's proposal. Founder Sir Stelios Haji-Ioannou would be able to roll his investment into the private company and keep his brand royalties. EasyJet shares rose 14% to £6.70 in early trading. Both bidders face EU rules requiring airlines to be majority owned and controlled within the region.

Why it matters for listed companies

A bidding war for a listed European airline during a fuel-price shock puts a private-capital value on the sector, a reference point for peers such as Wizz Air, Jet2, Ryanair and Air France-KLM. The EU ownership and control rules are the main obstacle for US buyers and shape how such deals are structured. For London, a take-private of easyJet would remove another large company from the UK listed market.

Reported by Financial Times via The Irish Times — “Apollo trumps Castlelake with £5.7bn deal to buy EasyJet” ↗ on 10 Jul 2026.

Rates and currencies since this was reported

Official series on 10 Jul 2026 or the last day before it, and the latest observation.

ECB deposit facility rate
2.25% → 2.50% +25 bp
10 Jul 2026 → 16 Oct 2026 · European Central Bank
Euro area 10-year yield (AAA)
3.11% → 3.39% +28 bp
10 Jul 2026 → 15 Oct 2026 · European Central Bank
Euro in US dollars
1.1430 → 1.1253 -0.0177
10 Jul 2026 → 16 Oct 2026 · ECB reference rate
Euro in pounds sterling
0.8516 → 0.8438 -0.0077
10 Jul 2026 → 16 Oct 2026 · ECB reference rate
These figures are measured, not attributed. Prices and rates move for many reasons at once; they show what happened after this story, not that the story caused it. Nothing here is a recommendation to buy, sell or hold.

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