With Castlelake confirming it will not make a formal offer, Apollo is now clear to proceed with its acquisition, offering shareholders 715p per share. Sir Stelios Haji-Ioannou, who founded easyJet in 1995 as a low-cost alternative to British Airways, has expressed his support for the deal. He said: "I am pleased with Apollo’s strategic intentions for the easyJet business, which aim to create more growth. "My family and I intend to remain invested as long-term major shareholders of easyJet for the next chapter in the company’s journey." He said: "The easyJet board has carefully evaluated the proposal from Apollo alongside easyJet’s standalone prospects.