Friday 10 January 2020 3:22 pm

Takeaway.com's Just Eat offer hits 80 per cent approval threshold

Takeaway.com’s £5.9bn offer to takeover Just Eat has been accepted by 80.4 per cent of shareholders in a meeting held today.

The online food delivery marketplace’s improved offer has been accepted after surpassing the 80 per cent threshold.

It means the takeover is now unconditional and will go ahead, with those yet to accept the offer given up to 14 days to change their mind.

Read more: Shareholders approve Takeaway.com’s aquisition of Just Eat

Takeaway.com said of the Just Eat shares eligible to vote, 549,231,901 of 683,096,963 voted in favour of the deal.

The company said it expects the offer to be declared as “wholly unconditional” by the end of the month.

Jitse Groen, chief executive of Takeaway.com said: “I am thrilled that our offer for Just Eat has now formally reached an acceptance level of 80.4%.

“I wish to thank everybody involved, but especially the Just Eat staff for their patience, in what must have been an uncertain time. Just Eat Takeaway.com is a dream combination and I am very much looking forward to leading the company for many years to come.”

Read more: Just Eat board rejects Prosus offer in favour of Takeaway.com merger

The Just Eat board last month rejected a cash bid from Prosus after it and Takeaway.com upped their offers.

Takeaway.com’s offer would involve an all-share merger with Just Eat worth 916p per share, compared to a previous offer of 731p.

Just Eat said an all-share merger with Takeaway.com would create one of the world’s leading food delivery companies and would “deliver greater value” to shareholders.

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