Apollo's easyJet Buyout Hits Union Opposition, November Vote Set
APO is trading near its 52-week low of $99.56 (14% above the low).
Summary
Apollo's £5.7B easyJet takeover faces union pushback, with the European Works Council opposing the deal over only 12 months of non-binding employee commitments. The scheme document published Thursday also sets court and shareholder meetings for the week of November 9, formally launching the process to delist easyJet. This follows the definitive agreement announced in August and adds a new hurdle: convincing regulators that European interests retain majority control. The union opposition could complicate the ownership structure approval, a key condition for closing before Q1 2027. Watch for the November vote outcome and any regulatory response to the ownership structure.
At the time of this announcement, APO was trading at $113.39 on NYSE in the Finance sector, with a market capitalization of approximately $67B. The 52-week trading range was $99.56 to $153.29. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.