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Gloucestershire Business News

Did somebody say Just Eat is worth more than £5billion?

Did somebody say Just Eat is worth £5billion?

Well, according to Dutch technology firm Prosus NV, the price they are willing to pay for the takeaway food specialists is actually a smidge higher.

The takeaway firm with those annoyingly catchy adverts has been locked in a takeover battle for the last five months.

Just Eat PLC agreed a merger with Dutch firm Takeaway.com in July that would have seen the company valued at more than £4.7billion.

However, Prosus another Dutch-based firm with a technology background looked to blow that deal out of the water with an initial offer above that offered by Takeaway.com

And now, they have upped the stakes even further by adding a further 30p per share to their offer which now comes in at 740p per share.

That offer would value Just Eat at around £5.1billion although the PLC board are still backing the merger offer with Takeaway.com ahead of the new bidder.

Both firms have issued impassioned pleas to Just Eat shareholders about why their bid is the better of the two, with shareholders having to choose by December 27.

Shares have unsurprisingly jumped at the news of the rival bids and are now trading at around 784p - valuing the company at £5.3billion.

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