Business

Takeaway.com 'strongly committed' to deliver Just Eat offer

UK food delivery firm Just Eat remains a takeover target by Dutch company Takeaway.com
UK food delivery firm Just Eat remains a takeover target by Dutch company Takeaway.com UK food delivery firm Just Eat remains a takeover target by Dutch company Takeaway.com

THE boss of Takeaway.com has said he is still "strongly committed" to buying UK food delivery firm Just Eat amid a battle with fellow Dutch company Prosus.

Jitse Groen said the merger would bring together the two firms' profits, while taking aim at the Prosus bid as "wholly inadequate".

"This merger combines the two most profitable European food delivery websites: Just Eat in the UK and Takeaway.com in the Netherlands," he said.

"We remain strongly committed to the merger."

It is the latest salvo in a battle for the future of Just Eat, which started when Prosus announced its plans to derail Takeaway's offer.

The Dutch company had already agreed a £5 billion bid for the firm with the board in August, but in October Prosus said it would enter the race.

However the board again re-iterated its rejection of Prosus's bid on Monday morning, and recommended that shareholders vote for the Takeaway.com merger instead.

"The Takeaway.com combination creates the second largest food delivery player globally and the largest outside China and it will be the market leader in 15 of the 23 countries where it operates," Just Eat chairman Mike Evans said in a letter to investors.

He said that the combined company's reach would allow it to pour money into innovation, as the industry faces challenges from smaller rivals such as Uber Eats and Deliveroo.