Just Eat was set up as a middleman but is now building a fleet of couriers to take on rivals such as Deliveroo and Uber Eats PAThe hedge fund agitating for an overhaul at Just Eat has turned up the heat on the takeaway delivery giant after demanding that it seeks a merger with a rival. Cat Rock Capital Management, which owns 1.7 per cent of the company, said that a transaction would be a “better alternative” than sticking with the company’s “plodding” board. By late afternoon trading in London today shares in Just Eat, which have fallen by a fifth from a peak of 890p in February last year, were 4 per cent, or 28½p, higher at 732.60p, the company a market value of £5 billion. In a scathing open letter published this morning the hedge fund attacked directors over their recruitment of Peter Plumb, the former boss of Moneysupermarket,…

Source: The Times February 11, 2019 09:04 UTC