Date
22 October 2019
Takeaway.com's merger deal with Just Eat will create a leader in many of the world’s largest food delivery markets. Photo: Bloomberg
Takeaway.com's merger deal with Just Eat will create a leader in many of the world’s largest food delivery markets. Photo: Bloomberg

Just Eat, Takeaway.com agree on US$10 bln merger

European online food delivery rivals Takeaway.com and Just Eat said on Monday they have agreed in principle for an 8.2 billion pounds (US$10.1 billion) merger in an all-stock deal, Reuters reports.

Shareholders in London-listed Just Eat will receive 0.09744 Takeaway.com shares for each share, implying a value of 731 pence per Just Eat share.

That represents a 15 percent premium to the closing price on Friday, according to the report.

Just Eat shareholders will own about 52.2 percent of the combined group, which together had 360 million orders worth 7.3 billion euros in 2018.

The combined entity will hold leadership positions in many of the world’s largest food delivery markets, including the United Kingdom, Germany, the Netherlands and Canada.

Just Eat chairman Mike Evans will chair the combine group, while Takeway.com chief executive Jitse Groen will assume the role of CEO at the company, which will be incorporated, headquartered and domiciled in Amsterdam.

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