6th Sep 2019 16:07
(Alliance News) - Takeaway food delivery firm Just Eat PLC on Friday said FIL Ltd's stake in the company is now below 5%.
Prior to a disposal on Wednesday, Bermunda-based FIL had a 5% holding in the company.
In August, Just Eat agreed an all-share merger deal with Dutch firm Takeaway.com NV. The deal valued Just Eat's shares at 731.00 pence each, representing a 15% premium to the 635.60p per share closing price the last trading day prior to the offer announcement.
On Tuesday, a top-ten shareholder in Just Eat hit out at the potential merger, saying it undervalued the company's shares. Eminence Capital LP added that Just Eat's stock has been trading above 731.00p since the proposed merger was announced.
Shares in Just Eat were 1.8% higher at 777.80 pence each in London on Friday afternoon.
Related Shares:
Just Eat