On Friday, the 20th of December 2019, Just Eat Plc., the London-based British food online food order and delivery service, had agreed to a £5.5 billion all-stock acquisition bid from the Amsterdam-based Dutch online food ordering company, Takeaway.com, adding that a metamorphosis of one of the world’s leading online food delivery firms appeared to be more compelling to Just Eat’s management board rather than an all-cash takeover bid from its arch-rival Prosus, remarking a near-end of a gruelling takeover bid for the British online food delivery service.
In point of fact, both Takeaway.com and Prosus had ratcheted up heats over the Just Eat Plc. takeover battle by raising their bids on yesterday (December 19th), nonetheless, the Just Eat Plc. management board chose to merge with the Amsterdam stock exchange listed Takeaway.com, sidestepping Prosus’s bid of 800 pence a share in line with its current share price.
Meanwhile, a Just Eat spokesman was quoted saying on Friday (December 20th) that the Dutch online food delivery service had obtained a legal acceptance and commitment from 46 per cent stakeholders of Just Eat, keeping it a spitting distance of 50 per cent plus share that it needed to win.
On top of that, adding a merger with Takeaway.com would be in line with Just Eat’s strategical dogma, the British food delivery service said in a statement on Friday (December 20th), “The board of Just Eat continues to believe that the combination with Takeaway.com is based on a compelling strategic rationale that allows shareholders to participate in the upside potential of the enlarged group. ”