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Just Eat: Prosus ups offer to £5.1bn in Takeaway.com battle

Prosus is seeking to break up the merger agreed in July between Just Eat and Dutch rival Takeaway.com, a deal that would create one of the world's biggest online food delivery companies.

Article originally published by The Guardian. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

The battle for control of UK food delivery firm Just Eat intensified on Monday as rival bidder Prosus raised its offer to £5.1bn.

Prosus is seeking to break up the merger agreed in July between Just Eat and Dutch rival Takeaway.com, a deal that would create one of the world’s biggest online food delivery companies.

Prosus, the Amsterdam-listed offshoot of South African technology group Naspers, launched a rival 710p a share cash offer in October and has now raised its terms to 740p a share.

Its chief executive, Bob van Dijk, said: “We urge shareholders to accept our offer, as it is the only one that delivers certainty in the face of undeniable industry change.”

Takeaway.com was swift to respond, claiming its all-share offer was still “far superior”. The board of Just Eat has continued to recommend the Dutch offer despite higher terms from Prosus.

Just Eat plc

Sell: 855.00 | Buy: 855.40 negative 0.20 (-0.02%)
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Prices delayed by at least 15 minutes.

Prosus became Europe’s biggest listed consumer internet firm when it floated on the Amsterdam stock exchange at a valuation of more than €100bn (£84bn) in September, and is controlled by Naspers, one of Africa’s most valuable companies.


This article was written by Julia Kollewe from The Guardian and was legally licensed through the NewsCred publisher network. Please direct all licensing questions to legal@newscred.com.

Article originally published by The Guardian. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

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