easyJet, Apollo extend offer deadline as regulator talks continue

(Sharecast News) - The offer deadline for Apollo's £5.7bn takeover proposal for easyJet has been extended by two weeks to facilitate ongoing discussions with regulators. The airline had agreed on 6 August to a 715p-per-share takeover by Eagle Bidco, a company owned by Apollo Capital Management, with a scheme of arrangement document expected within 28 days.

However, the boards of both parties have now agreed to push that deadline back to 15 October, with the permission of the Takeover Panel.

"In order to facilitate continuing constructive engagement with the relevant aviation regulators following the summer period and prior to publishing the scheme document, the boards of easyJet and Bidco have agreed an extension to the deadline for publishing the scheme document," the companies said in a joint statement on Tuesday.

A court meeting and general meeting of shareholders are still expected in the second week of November, and the acquisition is still predicted to complete by the end of the first calendar quarter of 2027.

See the latest RNS on Investegate.