EasyJet aligns Apollo and Castlelake bid deadlines to Aug. 7

EasyJet has aligned the bidding deadlines for Apollo Global Management and Castlelake LP after the UK Takeover Panel consented to extend Castlelake’s timetable. Both suitors now have until 5 p.m. on Friday, August 7 to announce a firm intention to make an offer or to confirm they will not proceed, while Apollo’s August 7 deadline remains unchanged. The Panel extended Castlelake’s original “put up or shut up” deadline, which had been set for 5 p.m. on August 3. EasyJet said it requested the extension to synchronize the two deadlines and noted that both firms have had access to due diligence materials since their most recent proposals. EasyJet cautioned there is no certainty of any offer. The airline also said the announcement was made without consent from Apollo or Castlelake.