17th Feb 2020 08:18
(Alliance News) - Just Eat Takeaway.com NV said Monday it has issued another 1.5 million shares as a result of further acceptances from Just Eat PLC shareholders.
Just Eat Takeaway.com, a name emerging from Just Eat PLC and Takeaway.com NV's merger, said its offer worth 916 pence per Just Eat share has now been accepted by 670.1 million Just Eat shares in total, representing 98% of shares.
Once the further 1.5 million Just Eat Takeaway.com shares have been issued, the combined company will have 142.4 million shares issued in total.
The offer for the remaining Just Eat shares remains open "until further notice" and 14 days' notice will be provided before it closes.
Just Eat Takeaway.com has begun the compulsory purchase of remaining Just East shares and has sent compulsory acquisition notices to shareholders. Just Eat shareholders who have not accepted the offer will have their shares compulsorily purchased unless they obtain a court order by March 20.
Earlier in February, the UK Competition & Markets Authority served an initial enforcement order on the Takeaway.com-Just Eat acquisition requiring them to keep their businesses independent with separate management until a CMA investigation is over.
Commenting on the CMA decision, Just Eat Takeaway.com said: "The company and its advisers are working with the CMA to respond to any questions it may have and are confident that merger clearance will be obtained in due course. In the meantime, the Just Eat and Takeaway.com businesses are being run independently and under separate management in compliance with the CMA's hold separate order.
It further added that: "Integration of the two businesses will only occur once the hold separate order has been lifted or amended by way of derogation to allow this to occur."
Shares in Just Eat Takeaway.com were up 0.9% at 7,870.00 pence on Monday morning.
By Anna Farley; [email protected]
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