EasyJet on Monday extended the deadline for suitor ​Castlelake to decide whether to make ‌a firm takeover offer, bringing it into line with the deadline facing Apollo (APO.N) as the bidding war for ​the budget carrier enters a decisive ​week.

Here are some details:

  • The UK Takeover ⁠Panel consented to an extension of Castlelake’s “put ​up or shut up” deadline to August 7 ​from August 3, matching Apollo’s existing deadline.
  • EasyJet said it has been providing diligence access to both Apollo and ​Castlelake since the last proposal was made.
  • EasyJet backed ​a £5.7 billion ($7.68 billion) takeover bid tabled by Apollo Global Management ‌in ⁠July, which trumped an earlier £5.5 billion bid by Castlelake.
  • The bidding war for easyJet possibly heads into its final stretch this week, with unresolved ​questions over ownership ​structures and ⁠investor exit options clouding the path to a deal.
  • The budget carrier’s ​profit plummeted 70 per cent in the third ​quarter, ⁠it reported late in July, as the Iran war led to volatile fuel prices and made travellers ⁠wary, ​though the airline indicated clearer ​skies heading into peak summer.