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Just Eat (JE.)

Share Price:
Up 794.00p
Change Today:
4.00p
Market Cap:
5,422m

Takeaway.com switches structure of Just Eat deal

04 Nov 19

LONDON (ShareCast) - (Sharecast News) - Takeaway.com has changed the structure of its offer to buy London-listed online food delivery company Just Eat as it looks to fend off a rival bid from Prosus.
The Dutch takeaway company had previously agreed the terms of a recommended all-share merger through a court-sanctioned scheme of arrangement. However, Takeaway.com said on Monday that it now plans to implement the combination through an offer with an acceptance threshold of 75%.

Takeaway.com chief executive officer Jitse Groen said: "We believe that the Just Eat Takeaway.com combination offers its shareholders a future value far superior to both Just Eat and Takeaway.com separately, and to the recent cash offer made by Prosus in particular. With this switch, we provide additional deal certainty to the Just Eat Shareholders."

Just Eat, which received an unsolicited 4.9bn takeover offer a couple of weeks ago from Prosus - which was spun off from South African conglomerate Naspers - said its board unanimously recommends that shareholders accept the Takeaway.com offer.

At 1010 GMT, Just Eat shares were up 0.3% at 739.60p and Takeaway shares were down 0.5% at €73.40.

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Market Data

Currency UK Pounds
Price 794.00p
Change Today 4.00p
52 Week High 812.00p
52 Week Low 570.60p
Volume 184,676
Shares Issued 682.93m
Market Cap 5,422m

Dividends

No dividends found