Dutch firm Takeaway.com has made the highest bid for control of Just Food delivery platform, outbidding its rival Prosus by £1.16 per share.
On Thursday the two rivals for the British firm both submitted their final bids.
Takeaway.com made a bid of £9.16p per share valuing the company at £6.3b. Prosus made a final of £8.00 a share valuing the company at £5.56b., improving on its December offer of £7.40 a share.
Shareholders have until 10 January 2020 to decide which offer to accept.
Bob van Dijk, CEO of Prosus, commented: "We maintain our belief that in the UK and other European markets, Just Eat will require significant investments in own-delivery and technology as competitive dynamics and customer preferences continue to evolve.
"We have always stated that we would remain disciplined with respect to price on acquiring Just Eat, balancing our desire to own an attractive business with the need for significant investment in that business while maintaining acceptable returns for Prosus shareholders."
Prosus is a South-African owned investment business Prosus listed on the Amsterdam stock exchange.