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Just Food fight is nearing an end, as it back even more to the final price quote

LONDON (Reuters) – Just Eat (JE.(L) support with a final of 5.5 billion pounds ($7.2 billion) all-share offer from Takeaway.com on Friday, he said the tie-up will create one of the world’s largest online food delivery companies are more convincing than the rival cash bid in the amount of Prosus.

FILE PHOTO: The app is for the Food, it is displayed on a mobile device, in this posed photograph in London, U.k., August 5, 2019. REUTERS/Toby Melville/File Photo

Take-away food (TKWY.AS a) and Prosus (PRX.AS the two raised their bid for the British firm on Thursday, with the Amsterdam-listed Takeaway’s all-share offer, trumping the 800 pence per share, to be offered by Prosus at the current market price of the stock.

“The board of Just Food, is still of the opinion that the combination of Takeaway.com it is based on a compelling strategic rationale that allows the shareholders to participate in the upside potential of the enlarged group,” You Just said it.

Take-away meals, has received valid acceptances and obligations of the holders of 46% of the trip on its own power, putting it within touching distance of the 50% plus one share that it needs in order to win.

And, in a further sign that momentum is even more of a Prosus, said that it was not going to be the purchase of the shares in the market.

“We have always said that we would remain disciplined with respect to the acquisition of Just Eat,” Prosus, CEO Bob van Dijk said, noting there is a need to balance the investments that are necessary for the growth of the company, with a decent rate of return for its shareholders.

Takeaway sweetened its bid to Just Eat by the shareholders of the 57.5% of the combined group, which is a 916 pence of value for every Dining common share is based on the Collection of the closing price of a share of 88.90 euros on Wednesday.

Even more, the shares have fallen since, but it’s 78 euro to the level they were trading at on Friday they will still offer something for Prosus, with an implied value of 803 pence per share.

Analysts at Barclays bank said the take-away, the shares would need to fall below 77 dollars for the implicit offer to be covered Prosus.

While the stock could come under some pressure, she said: “it was a positive” trading comments in its final offer document, you must have a good level of support.

Just eat’s shares to be followed even more drift lower on Friday, trading down 2.8% to 789 pence at 1455 GMT.

Through the process of creating the final bids of the two rival Dutch companies will avoid to take part in an auction just after Christmas.

The shareholders in a trip to the Jan. 10 to accept, while the take-away the shareholders ‘ vote on Nov. 9.

Just Eat said it is the holding company of the company founder and CEO Jitse Groen, who has a 25% stake, and the company’s managing board had agreed to support the deal.

Edited by David Clarke and Elaine Hardcastle and Alexander Smith

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