Just Eat and Takeaway.com begin discussions for GBP£8.2bn (US$10.1bn) merger
European online food delivery rivals, Just Eat and Takeaway.com have announced their discussions regarding a GBP£8.2bn (US$10.1bn) all-stock deal.
Talks on Saturday took place between the two food companies to discuss the deal. According to Takaway.com if the agreement in principle is passed, shareholders in Just Eat will receive shares in Takeaway.com as part of the merge.
It has been said that shareholders in Just Eat, for every share, will receive 0.09744 in Takeaway.com. This implies a value of £7.31 ($9.01) per just eat share, “a 15% premium to the closing price on Friday” according to Reuters. As a result, Just Eat shareholders could own 52.2% of the combined group, should the agreement in principle be confirmed.
Launched by five Danish entrepreneurs in 2001, Just Eat is a rapidly growing online food delivery company that has 100,000 restaurant partners globally as of 2018. Known as Just Eat across Europe the company trades as, Skip the Dishes in Canada, iFood in Mexico and Brazil as well as Menulog in Australia and New Zealand.
“From an attic to a leading online delivery marketplace” the Amsterdam based, food delivery company, Takeaway.com was founded in 2000 by Jitse Groen. It currently operates in ten European countries as well as Israel and has 30,500 restaurant partners as of 2016.
Chairing the new combined group will be Just Eat’s Chairman, Mike Evans. While Takeaway.com’s Chief Executive, Jitse Groen will take on the role of CEO.
The combined company has reported that its proposed positioning will be across the United Kingdom, Germany, the Netherlands and Canada, with its permanent headquarters being Amsterdam.
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