Investment Banking

Just Eat investors ordered a higher bid — £4.9bn has been delivered

Competing bid for takeaway group is latest twist in an onrunning M&A saga, with hedge funds and other shareholders not short of opinions on the company's future

Just Eat investors ordered a higher bid — £4.9bn has been delivered
Photo: Getty Images

A bidding war for Just Eat broke out on Tuesday after South Africa’s Naspers launched a hostile £4.9bn all-cash offer for the UK food delivery firm, gate-crashing an agreed deal with its Dutch rival Takeaway.com.

Prosus, a global investment vehicle which is majority-owned by media and technology group Naspers, has offered Just Eat shareholders 710p a share in cash.

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