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Just Eat and Takeaway.com claim merger 'necessary to stay competitive'

03 February 2020 by
Just Eat and Takeaway.com claim merger 'necessary to stay competitive'

Just Eat and Takeaway.com have said their merger is "necessary" to remain competitive in a global environment and they are confident the Competition and Markets Authority (CMA) will give its approval.

Dutch online delivery service Takeaway.com's offer for Just Eat valued the company at £5.19b and was approved by 80.4% of Just Eat shareholders last month. However, the CMA later launched an investigation into the acquisition, which is understood to centre around whether Takeaway.com would have re-entered the UK market as a separate entity.

Takeaway.com has said it did not have any intention to re-enter the UK market and is "confident that merger clearance will be obtained".

Shares in the Just Eat-Takeaway, forged through the acquisition, will begin trading on the London Stock Exchange today, although the companies will not be able to merge their brands or operations until the CMA gives its approval.

Jitse Groen, CEO of Just Eat Takeaway.com, said: "Today's listing on the London Stock Exchange marks the beginning of a new era for our company. The Just Eat Takeaway.com merger provides the scale that is a necessary condition to remain competitive in a globalised environment. Our ambitions, however, reach much further. It is our intent to lead the sector, which not only means delivering the absolute best product for both consumers and restaurants, but also a dedication to our social responsibility.

"Following the CMA's discretionary decision to conduct an investigation into the merger, we will work quickly to respond to their questions. As said, we are confident merger clearance will be obtained. I am excited about the opportunities ahead of us."

The CMA is also investigating an investment by Amazon into Deliveroo to the tune of $575m (£423m).

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