easyJet says its board is minded to recommend an all-cash takeover offer from US private equity firm Apollo valued at £5.7 billion (about $7.7 billion). Multiple reports state the offer values easyJet at 715 pence per share and that it overtops a previous potential bid from fellow US investor Castlelake, which was reported at 690 pence per share. easyJet also moves to withdraw or end its prior support for the Castlelake proposal, setting up a potential competitive process. Several outlets describe the announcement as triggering a bidding war or auction, because Apollo’s improved terms surpass the rival offer. easyJet’s acceptance in principle and the board’s position are framed as steps toward recommending the Apollo bid to shareholders, with further bids possible. The reports also note the timing of the developments, with Castlelake’s bid described as coming days earlier, and Apollo’s following offer prompting the change in easyJet’s stance.