4th Feb 2020 13:39
(Alliance News) - The UK Competition & Markets Authority on Tuesday said it has served an initial enforcement order on the completed acquisition of UK-based online food ordering and delivery platform Just Eat by Dutch peer Takeaway.com NV.
The initial enforcement order requires Takeaway and Just Eat to keep their businesses independent with separate management until a CMA investigation is over.
Earlier in January, Takeaway.com had said that CMA was reconsidering its position on its Just Eat deal.
Takeaway.com won a 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.
The combined company was renamed Just Eat Takeaway.com NV and its shares started trading on the London Stock Exchange on Monday. Just Eat shares were suspended after Takeaway.com's offer became unconditional in all respects on Friday last week.
Just Eat Takeaway.com shares in London were up 2.6% at 7,540 pence each on Tuesday afternoon.
By Tapan Panchal; tapanpanchal@alliancenews.com
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