Takeway.com wins £6bn battle for Just Eat

Meals on wheels An Uber Eats courier in Turin

Meals on wheels An Uber Eats courier in Turin

Before Takeaway.com submitted its final bid of £9.16 a share.

Takeaway initially agreed a takeover with the United Kingdom delivery company at the beginning of July. All were rejected as inadequate by Just Eat managers.

Takeaway Chief Executive Officer Jitse Groen, who will lead the new company, was publicly irritated by the Prosus challenge.

Takeaway defeated investment company Naspers following a lengthy bidding war for the FTSE 100 business.

While ending a colourful takeover battle, Takeaway's victory starts the hard task of integrating Just Eat.

In point of fact, Takeaway.com had been engaged in a gruesome takeover battle with its arch-rival Prosus NV to purchase the Just Eat Plc. more than three months in a bid to bolster its presence across the five continents, while on mid-December Takeaway.com was quoted saying in a statement that it had received assurance from 46 per cent of the Just Eat shareholders who had agreed to tender their shares to its offer, which was trading now at 879 pence a share.

The company said that the tie-up will result in annual cost-savings of around €20m (£17m), largely due to platform centralisation, better procurement, and the unification of branding.

The move has been sealed after more than 80% of Just Eat's shareholders have accepted the bid from its Dutch peer.

The combined firm will have 23 subsidiaries, mostly in Europe but also in Canada, Australia and Latin America.

But Prosus then stepped in with a string of increasingly large "hostile" bids - in that they were not solicited or pre-approved by the target company's board.

Prosus argued Takeaway was underestimating the investment needed to fend off rivals such as Uber Eats and Amazon.com.

Shareholder approval ends a bidding war between the Dutch firm and Prosus, an investment group backed by South African e-commerce giant Naspers, which had made a final cash offer of 800p per share shortly before Takeaway.com swooped with its knockout blow.

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