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

 |  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.

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    “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

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