Jul 28, 2019

Just Eat and Takeaway.com in merger talks

Just Eat and Takeaway.com are in talks to combine their online food ordering businesses and create a company worth £9bn, making it bigger than Amazon-backed Deliveroo and Uber Eats. Just Eat has come under additional pressure from hedge fund Cat Rock Capital, which in December went public with an activist campaign pressing for new leadership at the company. Just Eat has struggled to find a new chief executive in the past six months, which could leave Jitse Groen, Takeaway's founder and chief executive, as the most likely candidate to run the combined entity, according to people close to the company. Just Eat confirmed its discussions about a "Possible combination" with Takeaway.com in a statement on Saturday afternoon, following a report from Sky News. Based on Friday's closing prices, Just Eat has a market value of £4.3bn and Takeaway.com is worth €5bn, giving the combined company a value of more than £9bn, ensuring it a place on the FTSE 100.

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