Just-Eat to team up with delivery rival in €9bn merger

Just Eat and would have an estimated combined value of £9bn.

The combined group had 360m orders worth €7.3bn (£6.6bn) in 2018 and strong positions in the UK, Germany, the Netherlands and Canada.

Shares in Just Eat jumped more than a fifth to 776.8p on Monday morning, significantly higher than the valuation implied by the terms of the merger.

The all-share deal would see the Amsterdam-based acquire Just Eat for 731p a share, a 15% premium on Friday's closing price - creating a company with roughly 360m global takeaway orders, worth almost £7bn.

More news: Mobile's $26.5B Sprint deal OK'd despite competition fears

The British firm confirmed it was in talks about an offer by, after Sky News reported the possible deal earlier on Saturday.

Just-Eat chairman Mike Evans will chair the combine group, while chief executive Jitse Groen will assume the role of CEO at the company, which will be incorporated, headquartered and domiciled in Amsterdam, the companies said.

" has previously signalled that it wanted to consolidate the market and that it considered the United Kingdom to be one of the most attractive markets in Europe", Mould said. The firm was founded in 2000 and operates in 10 European countries as well as Israel and Vietnam but does not have a presence in the UK. In December, the Dutch food delivery service giant bought German home delivery companies Lieferheld, and Foodora from its German competitor Delivery Hero for €930m in a cash share deal.

Just-Eat is also a major player in the Irish market.

Like this



29 July 2019
Lin: 'The NBA's kind of given up on me'
I would have to talk about a [basketball] future I don't know if I want to have. So far, that hasn't happened for Jeremy Lin .

29 July 2019
North Korean boat crosses into South Korean waters
Ties between the Koreas remain cool amid a lack of progress in US-led diplomacy aimed at ending North Korea's nuclear program. Seoul said North Korea still held six other South Koreans arrested in recent years on anti-state and other charges.

29 July 2019
India's wild tiger population jumps to nearly 3,000: census
The country now has 2,967 tigers, which has been the result of a growth of 33 per cent in the fourth cycle of the Tiger Census . The tiger is a unique animal , which plays a pivotal role in maintaining the health and diversity of an ecosystem.

29 July 2019
‘Call of Duty: Modern Warfare’ multiplayer teaser features helicopter drop
Multiplayer remains the most popular component of Call of Duty , so this will be an important moment for fans. As for the characters of " Call of Duty: Modern Warfare ", there are only two that's been revealed so far.

29 July 2019
Boris Johnson heads to Scotland amid Brexit disagreement
But 72% said he should be given a chance to deliver Brexit before new elections are called or the government is toppled. Ministers are preparing for a no-deal emergency budget in the week of October 7, the newspaper added.

29 July 2019
Rahm roars to three-stroke lead at St Jude event
Jordan Spieth almost joined the top of the leaderboard after five birdies and just one bogey through 11 holes. Justin Thomas, the victor of the WGC event a year ago in its final time at Firestone in OH , had a 68.

29 July 2019
Manchester United Agree On £71 Million For This Midfielder
I can give him advice, he is at our disposal and hasn't missed a training session, but then I don't know what will happen. United are reportedly closing in on a £67.5m deal for the Serbia worldwide , who scored five Serie A goals last season.

29 July 2019
Newlywed tourist dies trying to reach 'Into the Wild' bus
In 2010, a woman from Switzerland also drowned in the river while attempting to reach the bus, according to Anchorage Daily News . State troopers said Markielau discovered his wife's body roughly 75 to 100 feet downriver and reported her death to authorities.

29 July 2019
Nigeria bans local Shi'ite group after protests
The court order for the proscription of the Shiite group was issued by the Abuja Division of the Federal High Court on Friday. An IMN spokesman said at least 20 of the group's members were killed this week during demonstrations.

29 July 2019
Royals-Cleveland Indians game report, summary July 26, 2019
Certainly there's a detailed reason for his success. "It's so huge to come out and jump on a big lead early". I'm sure for some out there it changes things. "You look at the scouting report and kind of read swings".