Key facts
- EasyJet extended the deadline for Castlelake's takeover bid.
- The new deadline for Castlelake's bid is August 7.
- The August 7 deadline matches Apollo's bid deadline.
- EasyJet recommends Apollo's higher offer to shareholders.
- A bidding war for EasyJet is nearing its conclusion.
EasyJet has extended the deadline for Castlelake's takeover bid to August 7. This new deadline matches the deadline set by Apollo for its own offer. The budget airline continues to recommend Apollo's higher offer to its shareholders. The bidding war for EasyJet is nearing its conclusion with these extensions. This move allows for further consideration of the competing offers. The situation indicates a complex negotiation process as multiple parties vie for control of the airline. The final decision will likely hinge on which offer provides the best value for EasyJet's stakeholders. The extension provides a crucial window for any final adjustments or counter-offers.