A PYMNTS Company

EU: Investor says Prosus bid for Just Eat is too low

By  |  October 23, 2019

Investor Aberdeen Standard Investments announced on Wednesday, October 23, that internet conglomerate Prosus needs to come up with a significantly higher bid for British meal delivery firm Just Eat.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    “We believe Prosus’ current all-cash offer of 710p significantly undervalues the group,” investment director Frederik Nassauer stated. 

    “In our view, Prosus would need to raise their cash offer by at least 20% in order for it to be deemed attractive.”

    Prosus announced its unsolicited £4.9 billion (US$5.5 billion) all-cash offer on Tuesday, October 23, in an effort to scupper an earlier all-share offer from Dutch rival Takeaway.com. 

    Aberdeen stated it continued to see the long-term potential and strategic value of that deal, but also stated Takeaway would probably have to increase its bid to remain attractive.

    Full Content: Reuters

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.