easyJet shareholders have approved a takeover by Apollo funds that values the British airline’s equity at about £5.7 billion. Completion is expected before the end of March 2027, subject to outstanding conditions, including regulatory approvals and court sanction.
By Adam Ujazdowski. Polish original published on 11 November 2026 at 15:15 UTC.
At the vote on 11 November, 97.07% of votes cast by shares participating in the scheme vote supported the takeover. The deal was also backed by 83.29% of shareholders who voted. A separate general meeting resolution enabling the acquisition and changes to the company’s articles of association received 96.67% support.
The buyer will be Eagle Bidco, a company indirectly owned by Apollo funds. The acquisition will use a UK scheme of arrangement, a court-approved agreement with shareholders. The voting results satisfy two conditions of the transaction, but do not make its completion certain.
Cash offer of £7.15 a share
The main offer provides for £7.15 in cash for each easyJet share. According to the company, that represents a premium of about 81% to the share price before takeover speculation emerged.
Apollo outbid an earlier proposal from investment firm Castlelake of £6.90 a share. The firm offer was announced on 6 August, with easyJet’s board unanimously recommending acceptance. Castlelake said on the same day that it would not make a firm offer.
Eligible shareholders can also choose to receive unlisted shares in an investment company instead of cash. This would allow them to retain an interest in the business alongside Apollo, but would entail a three-year restriction on selling those shares.
Airline ownership and control remain key issues
European rules on airline ownership and control remain one of the main challenges. Although easyJet is based in the UK, it also relies on EU licences to operate bases and routes within the bloc.
According to figures cited by Reuters, shareholders classified as EU investors held 35.07% of the shares on the day of the meeting. The company suspended voting rights on some shares held by non-EU investors to comply with regulatory requirements. If the takeover is completed, easyJet will leave the London stock market after more than a quarter of a century as a listed company.
Apollo says it will retain the easyJet brand and the airline’s UK headquarters. It also plans to support fleet modernisation and the expansion of easyJet holidays, the company’s package holiday business.
Sources: easyJet’s “Result of Meeting” announcement of 11 November 2026; company materials on the Apollo offer; Reuters.
