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Fri 10th Jan 2020 - seals victory in Just Eat battle with £5.9bn deal seals victory in Just Eat battle with £5.9bn deal: Dutch delivery firm has announced it has received the necessary acceptance level from Just Eat shareholders to complete its £5.9bn acquisition of the UK delivery platform. Takeaway’s offer, which involves an all-share merger with Just Eat worth 916p per share, received valid acceptances representing about 80.4% of the voting rights of Just Eat as of the 1pm deadline today (Friday, 10 January). stated: “ is pleased to announce the acceptance condition has been satisfied and the increased offer has become unconditional as to acceptances.” Chief executive Jitse Groen said: “I am thrilled our offer for Just Eat has now formally reached an acceptance level of 80.4%. I wish to thank everybody involved but especially the Just Eat staff for their patience in what must have been an uncertain time. Just Eat is a dream combination and I look forward to leading the company for many years to come.” has been involved in a bidding war with Prosus to buy Just Eat, with both companies making a number of offers since struck a management-backed deal in August., whose shareholders approved the deal on Thursday (9 January), tabled its “final” 916p-per-share offer last month only minutes after Prosus made an improved offer of 800p a share. At the time, said Just Eat shareholders would own 57.5% of the combined group as part of the bid, up from 52.12% under its previous offer. also said it would sell Just Eat’s stake in iFood following completion of a merger, returning 50% of the proceeds to shareholders in the new business. The increased offer will remain open for acceptance until further notice and expects the offer to be declared wholly unconditional no later than Friday, 31 January. Just Eat said it would not comment at this time but Propel understands the company, whose board backed the offer, is pleased the situation is nearing a conclusion.

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