US private equity firm launches £5.7bn takeover bid for easyJet

British low-cost airline easyJet accepted an improved takeover proposal from US private equity firm Apollo on Friday, triggering a bidding battle after the new £5.7 billion offer surpassed a rival proposal from Castlelake.

Apollo’s offer, valued at £5.7 billion (approximately $7.7 billion), exceeds Castlelake’s bid and marks the start of what analysts described as a bidding war for the airline, which operates primarily across European destinations....