With two big rival offers on the plate the food delivery giant can afford to sit back and await another helping
It’s still feels slightly odd that Just Eat, which only recently seemed to be a smartphone app plus a few blokes on mopeds, is a FTSE 100 company. But it’s time to acknowledge modern munching habits. Just Eat is now the target of two takeover bids, the latest being £4.9bn in hard cash. That definitely makes it a grown-up business.
The gatecrashing bidder is Prosus, the Amsterdam-listed offshoot of South African giant Naspers, and it must start as a favourite to prevail. A cash bid normally beats an all-share offer, which is all that is being pitched by Takeaway.com, also out of the Netherlands. As the saying doesn’t quite go, a pizza in the hand is worth two in the oven.
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