Skip to main content

European Business Takeaway.com and Just Eat formally agree on terms of merger

Amsterdam-based Takeaway.com and British rival Just Eat have finalized the terms of their deal to create a global food-delivery company that can rival Uber Eats as the largest outside China.

The group, to be called Just Eat Takeaway.com, will be a market leader in Britain, Germany, the Netherlands and Canada.

The companies said on Monday they had backed the deal as outlined on July 29, with Just Eat shareholders receiving 0.09744 new Takeaway.com shares for each of their shares.

Story continues below advertisement

The terms value Just Eat at around £4.7-billion ($6.9-billion), based on Takeaway’s price at Friday’s market close.

Takeaway.com’s shares have slipped around 8 per cent since the deal was announced last week, trading at €76.70 ($113.5) on Monday morning.

“The board believes that this is a compelling offer for Just Eat shareholders which will create a global leader in a dynamic and rapidly growing sector,” the British firm’s chairman, Mike Evans, said.

“Together we will have the scale to address the huge opportunities in the delivery market, as ordering food moves to becoming an everyday convenience”, he told reporters.

Scale is all-important in the fast-growing $100-billion-market as global rivals such as Amazon-backed Deliveroo and Uber Eats scramble to offer consumers the biggest choice.

“There is unprecedented competition in this global market, with lots of new parties”, Takeaway chief executive Jitse Groen, who will lead the merged company, said.

“Bringing these two together means we can pool the profits from both, to allocate capital efficiently to 23 countries.”

Story continues below advertisement

The companies said their merger was expected to lead to €20-million in cost savings after four years, with around half of that amount expected in the first year.

The deal is set to close by the end of 2019, after which Just Eat Takeaway.com shares will be listed in London, while Takeaway’s current listing in Amsterdam will disappear after a year.

Report an error
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

Cannabis pro newsletter