Shares in easyJet showed little sign of investor concern on Tuesday after Apollo-backed bidder Eagle Bidco announced a delay to the publication of the scheme document for its proposed £5.7bn takeover of the airline.

The UK Takeover Panel approved an extension, pushing the deadline from 3 September to 15 October as the parties continue discussions with aviation regulators.

While the companies did not identify the regulators involved, industry observers believe the discussions relate principally to European airline ownership and control rules.

Because Apollo is a US investor, regulators will need to be satisfied that easyJet's EU operations continue to meet requirements for European ownership and effective control, a key condition for retaining valuable flying rights across the bloc.

Despite the revised timetable, the companies stressed that the transaction remains on track to complete by the end of the first quarter of 2027, with no changes to the winning recommended £7.15-per-share cash offer, which was agreed earlier this month after months of tussle between the airline, Apollo and rival bidder Castlelake.

The court and shareholder meetings are now expected to take place in the week beginning 9 November.

easyJet shares traded around £6.73 to £6.75 during morning trading, steady on the day, suggesting investors view the announcement as a procedural delay rather than a sign of trouble for the deal.

For now, investors appear to be interpreting the update as a case of "delay, not deterioration". Unless future regulatory developments suggest a more serious obstacle, the takeover remains firmly on course, with the market continuing to price in a high probability of completion.

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