Just Eat rejects rival buyout deal
StockMarketWire.com - Shares in food delivery company Just Eat flew 23% higher to 724p after the company received a counter bid from Prosus Naspers worth significantly more than its Takeaway.com deal.
The new deal, pitched at 710p per share, represents a rough 20% premium to the all-share agreement with Dutch rival Takeaway.com, which counts as a reverse takeover.
Just Eats's shares had fallen 18% from the proposed offer in August.
Just Eat's board has immediately recommended that investors reject the new approach saying the offer 'significantly undervalues Just Eat and its attractive assets and prospects both on a standalone basis and as part of the proposed recommended all-share combination with Takeaway.com.' At 10:41am: (LON:JE.) Just Eat share price was +144p at 733.4p
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