Takeaway.com Changes Just Eat Deal Structure

By Donna Ahern
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.

News by Reuters, edited by Donna Ahern, Checkout. Click subscribe to sign up for the Checkout print edition.

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