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
  -0.96 -1.55% 60.94 60.10 61.90 61.54 59.78 61.54 1,939,398 16:40:00

Just Eat Shareholders Back Combination

10/01/2020 3:04pm

Dow Jones News

Prosus NV (EU:PRX)
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   By Adria Calatayud NV (TKWY.AE) said Friday that its offer for Just Eat PLC (JE.LN) has received support from a majority of shareholders of the U.K. company, paving the way for a deal that will create a European food-delivery giant.

The Dutch meal-delivery company said its all-share offer has been declared unconditional as to acceptances after getting the backing of shareholders representing 80.4% of Just Eat and defeating a rival all-cash bid from Prosus NV (PRX.AE).

Just Eat's board had recommended's offer and rejected Prosus' bid.

"Just Eat is a dream combination and I am very much looking forward to leading the company for many years to come," Chief Executive Jitse Groen said.

Mr. Groen will lead the combined entity with Just Eat Chairman Mike Evans as chairman.

As part of the deal, Just Eat shareholders will own a 57.5% stake of the combined group while investors will hold the remaining 42.5%. The merged entity is worth $13.89 billion based on the respective share prices of Just Eat and as of Jan. 9.

Takeaway said it now expects the offer to be wholly unconditional by Jan. 31. and Just Eat first agreed to merge this summer, but their deal was challenged by a hostile offer from Prosus, a spinoff of South African technology investor Naspers Ltd. (NPN.JO), which houses a major stake in Chinese internet giant Tencent Holdings Ltd. (0700.HK).


Write to Adria Calatayud at


(END) Dow Jones Newswires

January 10, 2020 09:49 ET (14:49 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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