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Just Eat could be bought over by a Dutch takeaway giant

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By Jennifer Faull, Deputy Editor

July 28, 2019 | 2 min read

Just Eat has confirmed it is in talks to be taken over by Dutch takeaway giant Takeaway.com.

just Eat

just Eat

A statement released by Just Eat said: "The possible combination may be implemented by way of an offer for Just Eat by Takeaway.com."

It later added that there was "no certainty" that a transaction would take place and “a further announcement will be made if and when appropriate."

Takeaway.com has until 24 August to announce if it intends to go ahead with a deal.

Just Eat’s global revenues grew by 43% in 2018 to £779.5m while pre-tax profits hit £101.7m, compared with a £76m loss in 2017.

Though its first quarter results, announced in April, indicated a slowdown in UK growth, global sales and revenue continued to rise 21% and 28% respectively.

However, bosses have faced pressure from shareholders to merge with a rival. Among the most vocal had been activist shareholder Cat Rock owns 1.7% of Just Eat as well as a stake in Takeaway.com.

It said that a merger “with a well-run industry peer is a very attractive avenue for securing world-class leadership, delivery expertise, and a premium".

Just Eat and Takeaway.com would have an estimated combined value of £9bn.

The delivery giant launched its first ever global campaign in May after unifying its global creative business under McCann at the end of last year.

Just Eat recently contributed to The Drum Magazine's Future of Food issue. You can subscribe to receive a copy here.

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