Amsterdam-based Takeaway.com (TKWY.AS) has agreed the terms of a recommended deal to buy British rival Just Eat to create the world’s largest online food delivery firm outside China.
The companies said on Monday they had backed the deal as outlined on July 29, with Just Eat shareholders receiving 0.09744 new Takeaway.com shares for each of their shares.
The terms of the combination imply a value of 731 pence per Just Eat share based on Takeaway.com’s closing share price of 83.55 euros on July 26, a premium of 15%, valuing the British company at nearly 5 billion pounds, the companies said.
Takeaway.com’s shares have slipped since the deal was announced to close at 77.6 euros on Friday.
The group, which will be called Just Eat Takeaway.com, will be a market leader in Britain, Germany, the Netherlands and Canada.
“The board believes that this is a compelling offer for Just Eat shareholders which will create a global leader in a dynamic and rapidly growing sector,” the British firm’s chairman, Mike Evans, said.
“Our businesses have a shared philosophy and culture, and together we will create one of the world’s largest online food delivery platforms with leading positions in key markets.”
Reuters
