Amsterdam-based Dutch multinational online food ordering company, Takeaway.com had issued a public statement on Thursday, the 9th of January 2020, saying that its controlling stakeholders had approved the company’s planned £5.9 billion ($7.7 billion) all-share takeover bid of its London-based peer, Just Eat Plc.
Aside from that, in its Thursday’s (January 9th) statement, the Dutch online food ordering company had also added that its proposed all-share merger with London-based Just Eat Plc., operating in 13 major markets across America, Europe, Oceania and Asia, was approved at an exclusive meet of the controlling stakeholders in Amsterdam earlier.
In point of fact, Takeaway.com had been engaged in a gruesome takeover battle with its arch-rival Prosus NV to purchase the Just Eat Plc. more than three months in a bid to bolster its presence across the five continents, while on mid-December Takeaway.com was quoted saying in a statement that it had received assurance from 46 per cent of the Just Eat shareholders who had agreed to tender their shares to its offer, which was trading currently at 879 pence a share.
Nonetheless, Prosus NV’s proposal involved an 800 pence per share all-cash takeover for the London-based online food ordering company, however, shortly after Prosus NV had heightened its bid last month, Takeaway took its slated merger hostile and offered its proposal directly to Just Eat Plc. shareholders. The tender period for both of the rival bidders would conclude by Friday (January 10th).