Deal-hungry provides $10 billion in Food acquisition

LONDON/AMSTERDAM (Reuters) – Amsterdam, the netherlands-based online food delivery company (TKWY.AND it has agreed to buy it Just to Eat with YOU.(L) in an all-share deal valuing the combined group, which will be one of the most important, and at about an 8.2 billion pound ($10.1 billion).

The companies, which have been revealed to the conversations on Saturday, he said on Monday’s they have a market leading position in many of the world’s biggest food delivery markets, including the United Kingdom, Germany, the Netherlands, and Canada.

The london-listed Just Eat the shareholders will receive a 0.09744 shares of for every share, which is equivalent to a value of 731 pence per Ordinary Food to share, a 15% premium to their closing price on Friday, the two companies said on Monday.

Just Eat shares soared 21%, to 775 pence, while the Takeaway was up almost 5% in the following, the details of the terms and conditions of the deal.

The activist investor, the Cat, the Rock, which is held by the two companies, has been pushing it, Just had to merge with a competitor, such as take-away meals, which is driving industry consolidation.

Take-away food bar is complete with 930 million euros for the acquisition of the German activities of Delivery Hero of the year, with the completion of a costly struggle for supremacy in the German food-supply of the market.

The company, which is said to be the leading food provider in continental Europe, Israel, and Vietnam, among others, has argued that in the online food ordering company and are very profitable for one and only one player in each of these countries.

Analysts at Investec, however, said that there was limited geographic overlap between the two companies, with the exception that they did in Switzerland.

“What this means is that the chance is about the use of technology and outsourcing of administrative expenses, in our view, the sharing of best practices,” they said. “It is not likely to be significant, but it is less attractive than if they are overlapping each other.”

Just Eat the shareholders, will have 52.2% of the combined group, which, along with 360 million of orders, up to the value of eur 7.3 billion in 2018.

Just Eat, chairman, and Mike Evans, the chairman of the combined group, while the chief executive, Jitse Groen, the role of the chief executive officer of the company, which will be incorporated, with its head office based in Amsterdam, the netherlands.

The company needs to make huge investments in the food delivery service, Please view it as a marketing tool, rather than as a potentially lucrative business.

The two groups, to take advantage of the promotional offers by restaurants for which the food, the people, through their platforms.

($1 = 0.8083 lb.)

Reporting by Paul Sandle in London, and Bart Meijer in Amsterdam; editing by Guy Faulconbridge and Alexander Smith

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