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Prosus raises bid for Just Eat

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By Reuters
Prosus raises bid for Just Eat
FILE PHOTO: Signage for Just Eat on the window of a restaurant in London, Britain, August 5, 2019. REUTERS/Toby Melville   -   Copyright  Toby Melville(Reuters)
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AMSTERDAM (Reuters) – Prosus <PRX.AS>, the Dutch-based technology giant, has raised its unsolicited offer for British food delivery service Just Eat <JE.L> to 740 pence per share, valuing the company at around 5.05 billion pounds, it said on Monday.

That compares with a rival deal from Takeaway.com <TKWY.AS> backed by the board of Just Eat that is worth 707.9 pence per share as of Friday’s closing price.

Seperately, Prosus lowered its acceptance threshold for Just Eat to 50% from 75% and extended the offer period to Dec. 27.

(Reporting by Toby Sterling, editing by Louise Heavens)