Naspers investment arm, Prosus has increased its bid for Just Eat to £5.1 Billion. The increase came to put pressure on the rival bidder, Takeaway.com to become the choicest buyer of the food delivery company.
The stride to own Just Eat by Naspers began in October when the latter made an unsolicited bid of £4.9 billion to acquire the food delivery company. The bid at this point was rejected by Just Eat on the account of being under-priced. Hence, Takeaway.com was next on the line with its £4.7bn bid.
See Also: Naspers Bids to Acquire Just Eat, Britain’s Leading Online Food Delivery Business
The increased bid by Prosus has taken the value placed on Just Eat to shift from the erstwhile 4.9 to 5.1billion.
Also, the bid has made Just Eat’s shares to accelerate from 0.5 to 781p, thereby leading to a higher price offering to its shareholders. This increment has prompted Just Eat to reconsider its stand with Prosus.
Meanwhile, Takeaway.com shares have also dwindled in recent times with a continuous downslope on the floor of the stock market. This fall is likely to change the stance of Just Eat.
However, the online food delivery company is yet to reveal its final stand on the new bid as it currently reviews its option while considering the opinions of top investors like City WatchDog.
The Chief Executive Officer of Prosus, Bob Van Dijk noted that the company’s new bid will offer shareholder compelling value for their stock. It will also transform Just Eat into a long term sector winner. He is therefore optimistic that the new bid will be accepted.
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