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UK: Hedge fund plans to derail £9B Just Eat merger

 |  September 3, 2019

A top-10 shareholder in Just Eat announced on Tuesday, September 3, it would vote against the British food delivery company’s proposed £9 billion (US$11 billion) merger with Takeaway.com, reported the Financial Times. 

Eminence Capital, a US asset management firm which owns 4.4% of Just Eat, stated the merger had a sound strategic rationale, but the financial terms of the deal were “grossly inadequate to Just Eat shareholders.”

Last month Amsterdam-based Takeaway.com and rival Just Eat finalized the terms of a deal, first outlined in July, to create a global food delivery company to rival Uber Eats as the largest outside China.

Full Content: Financial Times

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