(Alliance News) - Dutch firm Takeaway.com NV is poised to complete the acquisition of London-listed Just Eat PLC, beating rival Prosus NV, Bloomberg reported late Friday.
Takeaway.com and Naspers Ltd's internet spin-off Prosus have been engaged in a war of words in recent months over their rival offers, but Bloomberg said sources with knowledge of the matter expect Takeaway.com to come out victorious.
Shortly before Christmas, Takeaway.com said its offer received the backing of Just Eat holders representing 46% of total shares.
The closing date for Takeaway.com's offer is Friday at 1300 GMT.
https://www.bloomberg.com/news/articles/2020-01-03/takeaway-com-nears-final-victory-in-8-billion-just-eat-battle
In December, Takeaway.com unveiled a new bid, offering an all-share merger with FTSE 100 takeaway platform Just Eat worth 916 pence per Just Eat share, compared to a previous 731p offer.
This bid came after Prosus 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.
Just Eat's board held firm however, again reiterating that it prefers to pursue a deal with Takeaway.com.
"The board of Just Eat continues to believe that the combination with Takeaway.com is based on a compelling strategic rationale that allows shareholders to participate in the upside potential of the enlarged group and, based on the board of Just Eat's own analysis, that the final Takeaway.com offer will deliver greater value to Just Eat shareholders than the final Prosus offer," Just Eat explained.
"Accordingly, the board of Just Eat unanimously believes Just Eat shareholders should accept the final Takeaway.com offer and reject the final Prosus offer."
Just Eat shares were 0.1% higher at 866.20 pence each in London on Monday morning.
In Johannesburg, Prosus was 1.1% lower at ZAR1,055.44 and parent Naspers was 0.7% lower at ZAR2,335.31.
By Eric Cunha; ericcunha@alliancenews.com
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