Search
The Caterer

Just Eat rejects unsolicited £5b rival offer from investment group Prosus

22 October 2019 by
Just Eat rejects unsolicited £5b rival offer from investment group Prosus

Just Eat has rejected an unsolicited offer from investment group Prosus saying it “significantly undervalues” the company.

Prosus had made a cash offer of £7.10 a share, above an offer already in progress with Takeway.com of £5.94 a share. The Prosus offer values the delivery company at about £35b.

Recommending shareholders reject Prosus’ offer, the board of Just Eat said it “believes that it significantly undervalues Just Eat and its attractive assets and prospects both on a standalone basis and as part of the proposed recommended all-share combination with Takeaway.com.”

Just Eat said it would continue with the merger with Takeaway.com, which it said was based on a “compelling strategic rationale” that would deliver a number of “strategic benefits” and create one of the world’s largest online food delivery platforms.

Continue reading

You need to create an account to read this article. It's free and only requires a few basic details.

Already subscribed?

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!