UK meals delivery firm Just Eat has advised shareholders not to accept a 710 pence-a-share cash offer from Prosus.
It said the proposal was inferior to its agreed deal with Takeaway.com to create the largest food delivery player outside China.
“Your Board believes that the Takeaway.com combination provides Just Eat shareholders with greater value creation than the Prosus offer,” it said in a letter to investors on Monday, adding that the Prosus offer also significantly undervalued Just Eat on a standalone basis.
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