EasyJet Agrees in Principle to £5.7 Billion Takeover by Apollo

British budget airline EasyJet has reached an agreement in principle for a £5.7 billion takeover by US private equity firm Apollo, surpassing a rival offer from Castlelake. EasyJet's board views Apollo's offer of £7.15 per share as a superior outcome for shareholders. Apollo has until August 7 to finalize a firm offer.