EasyJet investors back £5.7bn takeover by Apollo

EasyJet shareholders have given the green light to the airline’s £5.7 billion private equity takeover in a move paving the way for it to fall into US hands.The Luton-based carrier said 97.07% of shareholders voted in favour of the takeover by US investment group Apollo at a meeting of investors on Wednesday, with 2.93% voting against.EasyJet said the deal is set to complete by the end of March next year.Its board agreed in August to a takeover for 715p a share by US firm Apollo, which also owns firms such as Wagamama-owner The Restaurant Group.EasyJet listed on the London Stock Exchange in 2000 (PA)PA WireThe deal will mark the end of more than 26 years on the London stock market and see easyJet fall into US ownership.Apollo secured the deal after winning in a takeover tussle with US investment firm Castlelake.Castlelake had previously made a £5.5 billion, or 690p a share, proposal to buy easyJet, but walked away from the bidding war in August.EasyJet was founded by Sir Stelios Haji-Ioannou in 1995 to offer a low-cost alternative to British Airways and it has since expanded to be one of the largest networks across Europe.Sir Stelios and his family, who own just over 15% of the business, have given the takeover their support.