Prosus NV Launches GBP4.9 Billion Bid for Just Eat, Interrupting Takeaway.com Deal
October 22 2019 - 4:49AM
Dow Jones News
By Oliver Griffin
Prosus N.V. (PRX.AE) has offered to buy online food-delivery
service Just Eat PLC (JE.LN) in a deal valuing the U.K. company at
4.9 billion pounds ($6.3 billion) in cash.
The Dutch company said its wholly owned subsidiary, MIH Food
Delivery Holdings B.V., has offered to buy Just Eat for 710 pence a
share.
FTSE 100 constituent Just Eat's shares soared on the news.
Shares at 0808 GMT were up 22% at 720 pence a share.
Prosus N.V. was formed from the international internet assets of
Naspers Ltd. (NPN.JO) and started trading in September this year.
Naspers continues to hold a 74% stake in Prosus, according to
FactSet.
Just Eat agreed in August to combine with Dutch rival
Takeaway.com N.V. (TKWY.AE) in an all-share merger. The deal valued
Just Eat at 731 pence a share at the time but has been opposed by
some major shareholders.
Write to Oliver Griffin at oliver.griffin@dowjones.com;
@OliGGriffin
(END) Dow Jones Newswires
October 22, 2019 04:34 ET (08:34 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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