Castlelake Ends Pursuit of easyJet After Apollo Offer
The Minneapolis investment firm Castlelake has ended its months-long attempt to acquire easyJet after rival suitor Apollo Global submitted a higher bid. The decision follows five separate proposals from Castlelake, including a final offer that valued the European budget airline at 5.5 billion pounds.
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Castlelake withdrew its takeover bid for EASYJET PLC on Thursday afternoon, ending a months-long pursuit of the European budget carrier. The decision follows a superior offer from APOLLO GLOBAL MANAGEMENT INC that intensified the bidding war for the airline. EasyJet shares rose 4.8% after the announcement, reflecting investor relief over the clarified bidding landscape.
