Two bidders are better than one. But easyJet’s exit is depressing for the London market | Nils Pratley

Once again a mispriced share price created opening for US raiders to rush in US private equity firm Apollo enters easyJet bidding war Will any remaining bidders for easyJet please make their way to the boarding gate? In reality, we’ve probably seen the whole cast at this point because the arrival of US private equity firm Apollo , trumping Castlelake’s offer, is a surprise. But the outbreak of a competitive auction will come as a relief to easyJet’s board. For all the fake drama of Castlelake’s five offers , it was an act of timidity on the part of easyJet chair Sir Stephen Hester to surrender

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