BREAKING NEWS

Just Eat-shareholder Cat Rock urges investors to back Takeaway.com deal

Just Eat-shareholder Cat Rock urges investors to back Takeaway.com deal
FILE PHOTO: The app for Just Eat is displayed on a smartphone in this posed picture in London, Britain, August 5, 2019. REUTERS/Toby Melville -
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Toby Melville(Reuters)
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LONDON (Reuters) – Just Eat <JE.L> shareholder Cat Rock Capital on Tuesday urged investors to back an all-share merger with Takeaway.com <TKWY.AS>, saying it believed the combination could create a company worth 1,200 pence a share in little over a year.

Just Eat shareholders have two offers to consider: a tie-up between the British group and its Netherlands-based peer Takeaway.com and a 710 pence a share cash offer from technology company Prosus <PRX.AS>.

Cat Rock, which controls about 3% of Just Eat’s shares, said the Prosus offer significantly undervalued Just Eat and shared none of the future potential of the business with Just Eat shareholders.

(Reporting by Paul Sandle; editing by Kate Holton)

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