Easyjet

Easyjet has accepted a £5.7 billion takeover bid from New York alternatives investor Apollo, concluding a period of intense speculation and a bidding war for the airline. The transaction, structured as a leveraged buyout, will see Easyjet taken private, with significant implications for its capital structure and shareholder rights.

Summary of transaction details:

• Value: £5.7 billion
• Sector: Logistics & Transport (Aviation)
• Advisor: Not mentioned in the article
• Key Entities: Easyjet (Target), Apollo (Acquirer)
• Location: Easyjet (UK-based airline), Apollo (New York-based)

Note: The deal represents a leveraged buyout, a common practice in private equity, which will load Easyjet with over £3 billion of debt to finance the transaction. The agreement also outlines new terms for shareholders, including a potential watering down of rights for those who roll their investment into the new vehicle, and a compulsory transfer provision for non-EU investors to maintain regulatory compliance.