3rd Feb 2020 08:53
(Alliance News) - New food delivery tie-up Just Eat Takeaway.com NV said its shares will begin trading on the London Stock Exchange on Monday.
Takeaway.com won the bidding war for Just Eat earlier in January, in a deal worth 916 pence per Just Eat share. South African media and internet investor Prosus NV had offered 800p.
Chief Executive Jitse Groen said: "Today's listing on the London Stock Exchange marks the beginning of a new era for our company. The Just Eat Takeaway.com merger provides the scale that is a necessary condition to remain competitive in a globalised environment. Our ambitions, however, reach much further. It is our intent to lead the sector, which not only means delivering the absolute best product for both consumers and restaurants, but also a dedication to our social responsibility.
"Following the CMA's discretionary decision to conduct an investigation into the merger, we will work quickly to respond to their questions. As said, we are confident merger clearance will be obtained."
The shares will trade under the JET ticker.
On Thursday, the UK Competition & Markets Authority imposed an initial enforcement order which requires Takeaway and acquisition target Just Eat to keep their businesses independent with separate management until the CMA investigation is over.
Just Eat shares were suspended from main market. Just Eat requested for the shares to be suspended after Takeaway.com's offer became unconditional in all respects on Friday.
By Eric Cunha; [email protected]
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Related Shares:
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