Castlelake walks away from easyJet takeover battle

Castlelake has withdrawn from the takeover battle for EasyJet, ending the competition between the two investors. The American private equity firm confirmed on Thursday that it does not intend to make an offer for the low-cost airline. This strategic withdrawal clears the way for Apollo to move one step closer to taking control of the carrier, effectively concluding the bidding tussle that had previously seen both firms vying for the budget airline.