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Takeaway.com's offer receives 80% approval from Just Eat shareholders

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Takeaway.com's offer receives 80% approval from Just Eat shareholders

Dutch online food delivery provider Takeaway.com NV has received acceptances from shareholders representing 80.4% of Just Eat PLC for its takeover offer, beating Prosus NV in a months-long battle for the British online food retailer.

In July 2019, Takeaway.com agreed to merge with the U.K.-based online food-delivery firm. The company in December 2019 raised its offer to 916 pence per share as the takeover battle with Prosus NV intensified.

Naspers Ltd. unit and e-commerce investor Prosus, which initially offered to buy Just Eat for 710 pence per share, increased its offer to 800 pence per share, or about £5.5 billion.

Just Eat's board had been recommending its shareholders to accept Takeaway.com's takeover bid and reject Prosus' offer.

Meanwhile, Prosus said its final offer for Just Eat has now lapsed after the proposal failed to secure required acceptance from Just Eat shareholders. Prosus' offer received acceptance of Just Eat shareholders representing just 0.02% of the company's voting rights.

Shareholders of Takeaway.com have also approved the company's planned takeover of Just Eat. Takeaway.com expects to declare the deal unconditional by Jan. 31.