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JUST EAT PLC

(JE.)
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Real-time Quote. Real-time CHI-X - 07/29 03:16:10 am
771.9 GBp   +21.44%
01:12aMEAL DEAL : Takeaway.com and Just Eat confirm merger talks
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07/27Takeaway.com in talks to buy Just Eat in food delivery tie-up
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07/26JUST EAT : Board Change
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Takeaway.com in talks to buy Just Eat in food delivery tie-up

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07/27/2019 | 07:20pm EDT

LONDON (Reuters) - European online food delivery firm Takeaway.com said it was in talks about an all-share offer for Britain's Just Eat, announcing the possible bid after a media report about a 9 billion pound merger plan.

Takeaway.com said on Saturday that it "confirms that it is in discussions with Just Eat regarding a possible all-share combination of Takeaway.com with Just Eat."

The British firm confirmed it was in talks about an offer by Takeaway.com, after Sky News reported the possible deal earlier on Saturday.

Takeaway.com and Just Eat said it was not certain the offer would take place and Takeaway.com had until 5pm (1600 GMT) on Aug. 24 to announce a firm intention to press on with the deal.

Just Eat has faced unrest from investors, led by activist shareholder Cat Rock which has pressed for a merger with Takeaway.com in which it also has a stake.

Takeaway.com this year completed a 930 million euro (836 million pounds) acquisition of the German activities of Delivery Hero, settling the costly battle for supremacy in the German food delivery market.

Takeaway.com claims to be the leading food deliverer in continental Europe, Israel and Vietnam. It has argued that the online food ordering business will be highly profitable for just one player in each country.

The business requires large investments in delivery services, which Takeaway.com views as a marketing tool, while profits flow from deals with restaurants seeking to use its platforms to reach customers.

Sky News said Mike Evans, Just Eat's chairman, was likely to continue in the role, while the leading contender to be chief executive of the merged firm was expected to be Jitse Groen, who founded Takeaway.com in 2000.

(Reporting by Maria Ponnezhath in Bengaluru and Bart Meijer in Amsterdam; Writing by William Schomberg; Editing by Edmund Blair)

Stocks mentioned in the article
ChangeLast1st jan.
JUST EAT PLC 2.06% 635.6 Delayed Quote.8.32%
TAKEAWAY.COM 1.15% 82.95 Delayed Quote.42.09%
UBER TECHNOLOGIES INC 2.58% 44.52 Delayed Quote.0.00%
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Financials (GBP)
Sales 2019 1 045 M
EBIT 2019 142 M
Net income 2019 22,9 M
Finance 2019 155 M
Yield 2019 -
P/E ratio 2019 201x
P/E ratio 2020 47,4x
EV / Sales2019 3,98x
EV / Sales2020 3,18x
Capitalization 4 316 M
Chart JUST EAT PLC
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Technical analysis trends JUST EAT PLC
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TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 825,06  GBp
Last Close Price 635,60  GBp
Spread / Highest target 114%
Spread / Average Target 29,8%
Spread / Lowest Target -18,2%
EPS Revisions
Managers
NameTitle
Peter Bernard Duffy Chief Executive Officer & Director
Michael Jonathan Evans Non-Executive Chairman
Adrian Blair Group Chief Operating Officer
Paul Scott Harrison Chief Financial Officer
Fernando Fanton Chief Technology & Product Officer
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