Takeaway to buy UK rival Just Eat to create largest food delivery firm outside China

Photo: Reuters

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

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.