It looks like Dutch Takeaway.com will win the battle for Just Eat. More than half of the shareholders would like to respond positively to the latest bid from the delivery competitor.
End of the battle in sight
In mid-December, both investor Prosus and competitor Takeaway.com made a new and final bid for Just Eat. Business newspaper De Tijd now reports that a majority of Just Eat shareholders is willing to accept the latter’s bid. The proposal of the Dutch meal deliverer values Just Eat at 7 billion euros, albeit to be paid in shares. Prosus, for its part, offered 6.4 billion euros, but in cash.
On the day of the ultimate bid, Takeaway.com reportedly had obtained commitments for 41.09 % of the shares. Since then, that number has risen above 50 %. The bid is valid until 10 January. Once the acquisition is complete, the current Just Eat shareholders will have a 58 % stake in the new merged company.