(Alliance News) - Just Eat Takeaway.com NV on Friday said it will begin the compulsory acquisition of the remaining Just Eat PLC shares which it does not already own.
Shares in the company were 0.8% higher at 7.920.00 pence each in London on Friday morning.
Takeaway.com won a bidding war for Just Eat in January, in a deal worth 916p 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.
The tie-up received acceptances from 90% of Just Eat shareholders. The enlarged firm on Friday said it has posted compulsory acquisition notices to Just Eat shareholders who are yet to accept the offer.
The UK Competition & Markets Authority on Tuesday said it has served an initial enforcement order on the online food delivery merger.
The initial enforcement order requires Takeaway.com and Just Eat to keep their businesses independent with separate management until a CMA investigation is over.
"The company and its advisers are working with the CMA to respond to any questions it may have and are confident that merger clearance will be obtained in due course. In the meantime, the Just Eat and Takeaway.com businesses are being run independently and under separate management in compliance with the CMA's hold separate order," Just Eat Takeaway.com said on Friday.
By Eric Cunha; ericcunha@alliancenews.com
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Just Eat Takeaw (JET)