Britain’s Just Eat announced on Saturday, July 27, it was in talks about being taken over by food delivery company Takeaway.com, after an earlier media report about a possible £9 billion (US$11 billion) merger.
“The possible combination may be implemented by way of an offer for Just Eat by Takeaway.com,” Just Eat said in a statement.
Combining London-based Just Eat and Amsterdam-headquartered Takeaway.com would create a group that can process billions of euros worth of online food deliveries every year from tens of millions of customers, primarily across Europe. It would also mark a victory for hedge fund Cat Rock Capital, which is an investor in both companies and has been agitating for a deal.
There is little geographical overlap between the markets in which the two groups operate. Just Eat has focused on the UK and western Europe, while also striking deals to expand into Canada, Latin America, and Australia. Takeaway.com holds a dominant position in Germany and eastern Europe.
Full Content: Financial Times
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