20th Dec 2019 13:51
(Alliance News) - Prosus NV on Friday noted the earlier announcement by London-Listed takeaway platform Just Eat PLC's board, which urged shareholders to back its merger with Takeaway.com NV.
Takeaway.com earlier offered an all-share merger with FTSE 100 takeaway platform Just Eat worth 916 pence per Just Eat share, compared to its previous 731p offer.
The new Takeaway.com bid was made almost immediately after Prosus, which was recently spun off from media giant Naspers Ltd, increased its own offer, in cash, to 800p per Just Eat share. Prosus had previously made 740p and 710p per share bids, both of which were rejected by Just Eat.
Prosus said, in response to Just Eat's announcement, that its cash offer remained open. However the company had no current plans to make any purchases of Just Eat shares.
"We maintain our belief that in the UK and other European markets, Just Eat will require significant investments in own-delivery and technology as competitive dynamics and customer preferences continue to evolve," said Chief Executive Officer Bob van Dijk.
"We have always stated that we would remain disciplined with respect to price on acquiring Just Eat, balancing our desire to own an attractive business with the need for significant investment in that business while maintaining acceptable returns for Prosus shareholders," van Dijk added.
Shares in Just Eat were 2.0% lower on Friday afternoon in London at a price of 795.00p each. Takeaway.com was 2.2% lower at EUR78.45 in Amsterdam, having dropped sharply on Thursday after making the new offer.
Shares in Prosus were 0.9% higher in Johannesburg on Friday at a price of ZAR1,042.99 each. They were 1.3% up in Amsterdam at EUR66.38.
By Dayo Laniyan; [email protected]
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Related Shares:
Just Eat