EasyJet shareholders have approved the airline's £5.7 billion private equity takeover, paving the way for the Luton-based carrier to fall into US ownership.
The company 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.
Deal completion expected by end of March
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 Apollo, which also owns firms such as Wagamama-owner The Restaurant Group.
The deal will mark the end of more than 26 years on the London stock market and see easyJet fall into US ownership.
Takeover battle with Castlelake
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 has since expanded to be one of the largest networks across Europe. It listed on the London Stock Exchange on November 22 2000.
Sir Stelios and his family, who own just over 15% of the business, have given the takeover their support.
