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Just Eat Takeaway.com, one of Europe’s biggest food delivery platforms, is set to be acquired by Dutch tech investment powerhouse Prosus in a massive all-cash deal worth approximately €4.1 billion ($4.3 billion). The offer values Just Eat’s shares at €20.3 each—an impressive 63% premium over Friday’s closing price. Investors reacted swiftly, sending Just Eat’s stock soaring by nearly 55% on Monday morning, reaching a fresh 52-week high. Meanwhile, Prosus shares tumbled 6.7%, making it one of the biggest losers on the pan-European Stoxx 600 index.
Prosus, which already holds a 28% stake in Delivery Hero, sees the Just Eat acquisition as a strategic move to strengthen its position in the competitive food delivery sector. CEO Fabricio Bloisi hailed the deal as a chance to create a “European tech champion,” emphasizing that Prosus’ investment and technological expertise will drive Just Eat’s next phase of growth. The acquisition follows a turbulent period for Just Eat, which experienced a boom during the pandemic but later struggled as consumer habits shifted. Last year, the company delisted from the London Stock Exchange, citing cost-cutting measures, and offloaded its GrubHub business at a fraction of its original purchase price.
Despite these challenges, Just Eat’s leadership remains optimistic about the future under Prosus’ umbrella. Founder and CEO Jitse Groen welcomed the acquisition, stating that Prosus’ backing will accelerate growth in key areas such as food, groceries, and fintech. With this high-stakes takeover, Just Eat is poised for a fresh start, potentially reshaping the European food delivery landscape. Whether the deal delivers long-term success remains to be seen, but for now, the market is abuzz with anticipation.
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(Source: Pulse 2.0 | MarketScreener)
