Just Eat Takeaway is being acquired by Dutch investment group Prosus for €4.1bn, reflecting a drastic fall in company value compared to its pandemic peak. The buyout occurs amidst declining takeaway demand as Covid restrictions ease, significantly impacting Just Eat's performance. Its previous attempt to expand in the US through Grubhub resulted in substantial losses. With fierce competition from rivals such as Deliveroo and Uber Eats, the acquisition is positioned as a strategy to leverage Prosus's resources for future growth and recovery in the delivery sector.
Just Eat Takeaway's value has plummeted post-Covid with its acquisition by Prosus for €4.1bn reflecting a dramatic decline from its pandemic peak of £14.2bn.
The acquisition deal at €20.30 per share represents a significant premium over recent valuations yet remains a stark discount compared to its €100 share price during the pandemic.
Facing intense competition from rivals like Deliveroo and Uber Eats, Just Eat's performance in the UK has significantly deteriorated, compelling the buyout update.
Prosus, leveraging its extensive resources, aims to accelerate Just Eat's strategic plans while addressing the competitive pressures within the online food delivery market.
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