UPDATE 1-Apollo trumps Castlelake with $7.65 billion easyJet bid

Apollo Global Management Inc
ProShares Ultra MSCI Japan

Apollo Global Management Inc

APO

0.00

ProShares Ultra MSCI Japan

EZJ

0.00

Adds detail throughout

July 10 (Reuters) - British budget carrier easyJet EZJ.L said on Friday it had agreed in principle to a rival £5.7 billion ($7.65 billion), or £7.15 per-share, takeover approach from Apollo Global APO.N.

"The proposed cash offer delivers a superior outcome for easyJet shareholders by providing a higher cash value than Castlelake's latest proposal of £6.90 per easyJet share," the London-listed airline said in a statement.

EasyJet on Sunday had agreed in principle to a £5.5 billion takeover offer from U.S. investor Castlelake.

($1 = 0.7447 pounds)


This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.