Monday 3 August 2026
M&A · Capital Markets · Financial Services
The Final Approach
Castlelake's takeover clock resets to Friday as Apollo's £7.15-a-share offer holds sway at easyJet, Lloyds shares break the £1 barrier for the first time in two decades, and the City braces for a heavyweight week of earnings from HSBC, BP, Glencore and Diageo.
I. M&A / Aviation
EasyJet's Bidders Get Five More Days to Land a Firm Offer
Monday 3 August was supposed to be the deadline for Castlelake to put up or shut up on its pursuit of easyJet. Instead, the clock has been reset to 5pm on Friday 7 August, aligning Castlelake's deadline with that of rival bidder Apollo Global Management, whose £7.15-a-share, roughly £5.7 billion proposal has become the board's preferred option since 10 July.
II. Financial Services / Capital Markets
Lloyds Shares Break £1 for the First Time in Two Decades
Lloyds Banking Group's shares have climbed 43% over the past year and broken through £1 for the first time in almost twenty years, taking the bank's market value to around £66 billion. The rally follows a first-quarter profit rise of 33% to £2 billion, alongside firmer returns on equity and disciplined cost control.
III. Capital Markets / Disclosure
HSBC, BP, Glencore and Diageo Cluster Results Into One Tight Week
The City's earnings calendar compresses hard this week. HSBC reports at 4am and BP at 6am on Tuesday 4 August, both before the London market opens; Glencore follows at 6am on Wednesday, and Diageo's full-year results land before the open on Thursday. All four are large enough to move their respective sectors — banking, energy and mining, and consumer staples — in the opening minutes of trading.
Sources — euronews.com · easyjet.com · aerospaceglobalnews.com · ts2.tech · finimize.com