A top-10 shareholder in Just Eat announced on Tuesday, September 3, it would vote against the British food delivery company’s proposed £9 billion (US$11 billion) merger with Takeaway.com, reported the Financial Times.
Eminence Capital, a US asset management firm which owns 4.4% of Just Eat, stated the merger had a sound strategic rationale, but the financial terms of the deal were “grossly inadequate to Just Eat shareholders.”
Last month Amsterdam-based Takeaway.com and rival Just Eat finalized the terms of a deal, first outlined in July, to create a global food delivery company to rival Uber Eats as the largest outside China.
Full Content: Financial Times
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