Share Name Share Symbol Market Type
Prosus NV EU:PRX Euronext Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 60.94 60.10 61.90 61.54 59.78 61.54 1,939,398 16:40:00

Just Eat Board Recommends Takeaway.com Offer, Rejects Prosus Bid

20/12/2019 11:41am

Dow Jones News


Prosus NV (EU:PRX)
Historical Stock Chart

6 Months : From Oct 2019 to Apr 2020

Click Here for more Prosus NV Charts.
   By Adria Calatayud 
 

U.K. food-delivery platform Just Eat PLC (JE.LN) said Friday that its board unanimously recommends an improved all-share offer from Dutch peer Takeaway.com NV (TKWY.AE), and rejects a rival all-cash bid from Prosus NV (PRX.AE).

Just Eat said its board believes the final Takeaway offer will deliver greater value to Just Eat shareholders than the final Prosus bid, as Takeaway's proposal is based on a compelling strategic rationale that allows shareholders to participate in the upside potential of the enlarged group.

Just Eat's board had also recommended a previous offer from Takeaway and rejected bids from Prosus.

Just Eat's response comes after its two suitors put in improved offers and declared them final on Thursday, in an escalation of the bidding war for the U.K. company.

Takeaway said its increased bid would give Just Eat shareholders a 57.5% stake in the combined group, up from 52.12% under its previous offer. The Dutch company also said it plans to explore options to exit Just Eat's minority stake in Brazil's iFood--in which Prosus owns a major stake--and return approximately half of the net proceeds to the shareholders of the combined group.

Meanwhile, Prosus raised its cash bid for Just Eat to 800 pence a share from 740 pence a share, valuing the company at 5.5 billion pounds ($7.20 billion).

Both offers will remain open for acceptances until Jan. 10, Just Eat said.

 

Write to Adria Calatayud at adria.calatayud@dowjones.com

 

(END) Dow Jones Newswires

December 20, 2019 06:26 ET (11:26 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

1 Year Prosus NV Chart

1 Year Prosus NV Chart

1 Month Prosus NV Chart

1 Month Prosus NV Chart
ADVFN Advertorial
Your Recent History
EU
PRX
Prosus NV
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20200405 07:00:12