EasyJet takeover cleared for take-off by shareholders - but could regulators block Unilever's £50bn food mega-merger?

EasyJet shareholders have given the green light to the airline’s £5.7billion private equity takeover in a move paving the way for it to fall into US hands.The Luton-based carrier said 97 per cent of shareholders voted in favour of a sale to investment group Apollo.The deal is set to complete by the end of March - when the airline will leave the London stock market after more than 26 years in another blow to the City following a wave of takeovers. But Unilever's plans to merge its food business with US spice-maker McCormick are now being pored over by the competition watchdog.The vote at easyJet came after the airline's board backed a 715p-a-share offer in August from Apollo, which also owns Wagamama-parent The Restaurant Group.Apollo secured the deal after winning a takeover tussle with US investment firm Castlelake. EasyJet is set to leave the London stock market after more than 26 years and fall into US handsCastlelake had previously made a £5.5billion, or 690p-a-share, proposal to buy easyJet, but walked away from the bidding war in August.EasyJet chief executive Kenton Jarvis said it is now 'over to the regulators' and that his company is still anticipating the whole transaction closing' in the first quarter of next year. Speaking at the Airlines 2026 event in Westminster today, Jarvis added: 'It’s a very good thing for the passengers.'We’ve obviously spoken to Apollo and it’s clear they support the strategy that we have and see great opportunities to accelerate it.'When we think about our strategy and our purpose of making low-cost travel easy, affordable and accessible for as many people as possible, then that will remain the purpose of easyJet, and we will look to provide the products and the services that our customers value.'We’re very excited about it. We think it’s good for the future of the company.' Stelios Haji-Ioannou set up EasyJet in 1995Asked whether the deal constitutes an 'injection of cash into the airline that will transform the passenger experience', Jarvis added: 'We have a lot of things that we’re working on for the strategy and a lot of things that are coming along.'We are at the start of our journey of modernising the fleet so we have a very strong and flexible order book with Airbus, and we’ll be bringing in A320 and A321neo aircraft.'They’ll replace our older, smaller, less fuel-efficient aircraft in the fleet, like the 80 A319s that we have, and that gives great benefits in terms of not only the environment and the carbon footprint, but also the cost of operating those aircraft, and then that will give good value to the customer.'We will continue to invest and grow our holidays company.'EasyJet was founded by Sir Stelios Haji-Ioannou in 1995 to offer a low-cost alternative to British Airways and it has since expanded to be one of the largest networks across Europe.It listed on the London Stock Exchange in November 2000.Sir Stelios and his family, who own just more than 15 per cent of the business, have given the takeover their support.Unilever merger plans under threatUnilever’s plan to merge its food business with US spice-maker McCormick is at risk of being blocked after regulators raised competition concerns.After opening an inquiry into the deal in September, the Competition and Markets Authority (CMA) said the near-£50billion tie-up ‘is expected to result in a substantial lessening of competition’.The regulator found the merger will create the biggest supplier of dry-ingredient mixes, for meals such as chicken casserole, and dry-sauce mixes, such as parsley sauce, in the UK ‘by far’.The deal will be referred for an in-depth investigation unless the ‘parties offer an acceptable undertaking to address these competition concerns’, the CMA said.Unilever struck a deal in March to sell most of its food business to McCormick, which owns Schwartz.In August, the FTSE 100 firm put English mustard brand Colman’s up for sale to head off competition fears. McCormick owns French’s, one of the world’s largest mustard brands.Unilever owns brands including Hellmann's and MarmiteUnilever and McCormick have until next Wednesday to address competition concerns.If the regulator is not satisfied, it will take its investigation to the next stage.Unilever said: ‘We are working constructively with the CMA on a suitable remedy. As announced in August, a decision had already been taken to market the Colman’s brand and assets for sale to address potential competition concerns. Discussions with potential buyers are progressing well.’The CMA also looked at potential competition issues over the supply of mustard to UK supermarkets, but found that consumers typically consider English, French and American-style as distinct from one another.Unilever has been selling food for nearly 100 years and owns brands including Knorr stock cubes and regional products such as Maille Dijon mustard and Marmite spread.McCormick is considerably smaller and generates half the sales of Unilever’s food arm.But larger food firms have struggled as shoppers pull back on spending or choose cheaper brands. The increase in popularity of weight-loss drugs has also proved problematic.The deal marks the most significant move by Fernando Fernandez since taking the helm ​at Unilever in March last year.DIY INVESTING PLATFORMSAJ BellAJ BellEasy investing and ready-made portfoliosHargreaves LansdownHargreaves LansdownFree fund dealing and investment ideasinteractive investorinteractive investorFlat-fee investing from £4.99 per monthFreetradeFreetradeInvesting Isa now free on basic planTrading 212Trading 212Free share dealing and no account feeAffiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.Compare the best investing account for you