Apollo snaps up Easyjet after Castlelake walks awayEasyjet accepted the bid from Apollo (Gareth Fuller/PA Wire)Easyjet has agreed a £5.7bn takeover deal with Apollo after rival bidder Castlelake pulled out of the bidding process. In a joint announcement with the low-cost airline on Thursday, the American private markets juggernaut said it had “reached an agreement on the terms and conditions of a recommended cash acquisition”. Castlelake withdrawal ends Easyjet bidding warCastlelake said it was “very appreciative of the constructive engagement with the Easyjet board and management team”, but would not make a firm bid for the orange-liveried carrier. Read more Easyjet agrees to £5.7bn Apollo takeoverBut the bid was trumped just days later by private markets juggernaut Apollo, which tabled its own £5.7bn offer. By accepting the offer, Easyjet will become the first large European carrier to be held in private markets.