Takeaway.com Changes Just Eat Deal Structure
Takeaway.com on Monday changed the structure of its plan to buy Just Eat, increasing the certainty of a deal as it battles internet giant Prosus to buy the British food delivery ordering service.
Takeaway and Just Eat had earlier agreed on the terms of a recommended all-share combination by means of a Court sanctioned scheme of arrangement.
It now intends to buy Just Eat through an offer with a shareholder acceptance threshold of 75%.
Just Eat's board unanimously recommended that shareholders should accept the Takeaway.com offer, it said in a separate statement.
Prosus last week unveiled an unsolicited $6.3 billion offer in cash, or 710 pence per share, for Just Eat. Just Eat, which had already agreed in August to an all-share offer from Takeaway, also rejected Prosus' bid.