Dutch internet conglomerate, Prosus has today made a £4.9bn cash bid to buy British food delivery firm, Just Eat Plc, following the £8.2bn merger bid from Dutch rival, Takeaway.com in August.
The Board of Just Eat has considered the terms of the Prosus offer and believes that it significantly undervalues the company.
The Board believes that the Takeaway.com merger provides Just Eat shareholders with greater value creation than the terms of the Prosus offer. Accordingly, the Board continues to recommend the Takeaway.com Combination to Just Eat shareholders.