Takeaway.com Sweetens Offer for Just Eat, Declares Bid Final

   By Adria Calatayud 
 

Dutch food-delivery company Takeaway.com NV (TKWY.AE) said Thursday that it has sweetened its all-stock offer to merge with U.K. peer Just Eat PLC (JE.LN), shortly after rival suitor Prosus NV (PRX.AE) raised its own bid.

Takeaway's offer, which is final and won't be increased, said its raised bid values Just Eat at 916 pence a share based on the Dutch company's closing price on Wednesday.

Just Eat shareholders will own 57.5% of the combined group, Takeaway said, up from 52.12% under its previous offer.

The offer will remain open for acceptances until Jan. 10, Takeaway said.

Takeaway said it has also reduced the acceptance condition to a simple majority from 75% previously. The company said it has received acceptances and commitments from shareholders representing 41.09% of Just Eat.

Earlier on Thursday, 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 ($7.2 billion), as it declared its offer final.

Write to Adria Calatayud at [e-mail]

(END) Dow Jones Newswires

December 19, 2019 10:58 ET (15:58 GMT)

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