Just Eat bidding war intensifies anew with fresh bids from Takeaway.com, Prosus
Investors have until 10 January to decide which bid to accept.
The bidding war for Just Eat continues to heat up, with rivals Takeaway.com and Prosus making new and final offers.
Takeaway.com raised their all-share merger offer to a deal worth 916 pence per share, up from their initial 800 pence per share deal. This offer now values Just Eat at nearly £6.3bn.
The Dutch company’s offer would also hand Just Eat shareholders a 58% stake in the merged company, up from 52%. Takeaway is also offering to sell Just Eat’s stake in the Brazilian delivery company iFood, which Just Eat owns in partnership with Prosus, returning half of its proceeds to shareholders.
Prosus, meanwhile, raised its all-cash bid by £400m to £5.5bn, or 800 pence a share. The company previously made bids of 740 pence- and 710 pence-per-share, offers which were rejected by Just Eat.
Just Eat said in a separate announcement that they are currently reviewing both final offers from the two rivals, with investors having until 10 January to decide which bid to accept.
