Prosus (PRX.AS) held firm on its $6.3 billion offer to buy Just Eat (JE.L) on Monday as it argued the merits of its bid versus one from Takeaway.com for the British online takeaway delivery firm. The one change in the offer published on Monday by the Dutch arm of South African internet giant Naspers (NPNJn.J) was an acceptance threshold lowered to 75% from 90%.
"We actually believe that financial markets are under- estimating the cost of implementing the transformation Just Eat requires to protect its market position and to capitalize on its long-term opportunity," Prosus CEO Bob Van Dijk said. Prosus has weighed in with an unsolicited cash offer of $6.3 billion, or 710 pence per share, for Just Eat. That's higher than the 4.7 billion pound all-share deal. - Reuters, London
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