Just Eat, which operates in 13 countries, agreed to a merger with Takeaway.com in July ALAMYJust Eat has accepted that its multibillion-pound merger with Takeaway.com is dead in its present form, putting pressure on the Dutch suitor to sweeten the terms of its proposal. The FTSE 100 food delivery group is at the centre of a bidding war after Naspers, the South African technology conglomerate, gatecrashed the tie-up with Takeaway.com on Tuesday, tabling a 710p-a-share cash offer worth £4.9 billion. The Just Eat board, backed by three of its biggest shareholders, rejected the hostile bid from Prosus, a Naspers subsidiary, saying that its merger with Takeaway.com “provides Just Eat shareholders with greater value creation”. However, The Times understands that Just Eat and its City advisers believe that the deal it agreed with Takeaway.com in July is no longer viable after…

Source: The Times October 25, 2019 23:03 UTC