logo
Plus   Neg
Share
Email

CMA Investigating Just Eat-Takeaway Merger; Offer To Be Unconditional On Jan 31

UK food delivery company Just Eat plc (JE.L) on Friday issued a statement regarding the Competition and Markets Authority or CMA's announcement that it is investigating the combination of Takeaway.com N.V. and Just Eat. The merger would result in the formation of Just Eat Takeaway.com Co.

CMA intends to undertake a targeted investigation focused on assessing whether Takeaway.com would, absent the Just Eat Takeaway.com Combination, have re-entered the UK market.

Just Eat Board also noted that Takeaway.com had been informed by the mergers intelligence committee of the CMA on Wednesday that the CMA has reconsidered its position regarding the Takeaway.com combination.

Just Eat confirmed that such a merger investigation by the CMA is non-suspensory and will not affect the ability of Takeaway.com to declare the offer for Just Eat unconditional in all respects and to proceed with settlement.

The approval of the CMA is not a specific condition to the Takeaway.com Offer.

Takeaway.com now expects that its offer will become unconditional in all respects on January 31, compared to previously expected January 24. Following this, Takeaway.com will initiate the process to compulsorily acquire the outstanding shares in Just Eat.

Takeaway.com has received acceptances representing approximately 90.2 percent of the voting rights of Just Eat.

Just Eat will make a further announcement as appropriate.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT
>