LONDON (Reuters) – Netherlands-based Prosus <PRX.AS> has tweaked its offer for online takeaway delivery platform Just Eat <JE.L>, lowering the acceptance threshold for investors as it battles Takeaway.com to buy the British company.
Just Eat had previously agreed on the terms of a 4.7 billion pound ($6.1 billion) all-share deal that prompted internet giant Prosus to weigh in with an unsolicited cash offer of $6.3 billion, or 710 pence per share, setting an increasingly fractious contest in motion.
Prosus on Monday published its cash offer document and lowered the threshold for shareholder approval to 75% from 90%. It said a fall in the value of Takeaway’s offer since it was announced, due to a drop in the firm’s share price and currency moves, meant investors should accept its terms.
Prosus is a Dutch internet conglomerate that was spun out of South Africa’s Naspers <NPNJn.J>.
(Reporting by Paul Sandle; editing by Kate Holton)