Propel Morning Briefing Mast Head Propel Hospitaliity website Paul's Twitter Link Subscribe Unsubscribe Web Version Forward Email Star Pubs and Bars Banner Morning Briefing Strap Line
Fri 10th Jan 2020 - Takeaway.com seals victory in Just Eat battle with £5.9bn deal
Takeaway.com seals victory in Just Eat battle with £5.9bn deal: Dutch delivery firm Takeaway.com 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). Takeaway.com stated: “Takeaway.com is pleased to announce the acceptance condition has been satisfied and the increased Takeaway.com 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 Takeaway.com is a dream combination and I look forward to leading the company for many years to come.” Takeaway.com has been involved in a bidding war with Prosus to buy Just Eat, with both companies making a number of offers since Takeaway.com struck a management-backed deal in August. Takeaway.com, 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, Takeaway.com 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. Takeaway.com 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 Takeaway.com offer will remain open for acceptance until further notice and Takeaway.com 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 Takeaway.com offer, is pleased the situation is nearing a conclusion.


Return to Archive Click Here to Return to the Archive Listing
 
Punch Taverns Link
Return to Archive Click Here to Return to the Archive Listing
Propel Quarterly Spring 2018view online
 
Propel Premium
 
Casual Dining Show Banner
 
Wi5 Banner
 
Brothers Banner
 
Venners Banner
 
HGEM Banner
 
Zonal Banner
 
Startle Banner
 
COREcruitment Banner
 
Diageo Sky
 
Freeths Banner
 
Venners Banner
 
liveRES Banner
 
Pipers Crisps Banner
 
Tahola Banner Tahola web link
 
Lincoln & York Banner
 
Punch Taverns Link Punch Taverns Link
Startle Banner
ALMR Web Link Web Version Unsubscribe Subscribe Propel Info website