Takeaway.com says Just Eat takeover timetable delayed due to UK probe
FILE PHOTO: Signage for Just Eat is seen on the window of a restaurant in London, Britain, August 5, 2019. REUTERS/Toby Melville
LONDON (Reuters) – Netherlands-based meal delivery company Takeaway.com said the expected timetable for its takeover of British rival Just Eat would be delayed by a week after UK competition authorities said it would look at the deal.
Earlier this month, Just Eat’s shareholders agreed to the all-stock deal valued at 6.2 billion pounds ($8.2 billion) over a rival bid from tech investment giant Prosus NV.
Takeaway.com said in a statement on Friday that Just Eat would be renamed Just East Takeaway.com on Jan. 31 and trading in the company’s shares will commence under the new name with effect from Feb.3.
Britain’s Competition and Markets Authority (CMA) confirmed on Thursday it believed a probe into the deal may be warranted.
The CMA said on Friday it was seeking comment on the deal from interested parties by Feb. 6.
Reporting by Sarah Young; editing by James Davey