From Breakingviews: Unattended cooking is the leading cause of house fires. Bickering bidders for Just Eat face a similar hazard if they fail to focus on what shareholders in the food delivery group care about most: a better offer, says KarenKKwok:
Signage for Just Eat is seen on the window of a restaurant in London, Britain, August 5, 2019.
The battle for Just Eat was always likely to turn nasty after Prosus, the 103 billion euro internet investor recently spun off from South Africa’s Naspers, last week launched a 4.9 billion pound cash offer for the leaderless UK company. It trumped an all-share agreed offer from Dutch rival Takeaway.com.
Delivery Hero and Prosus denied the accusation. Despite having 22% stakes and one board seat, Prosus said it does not control its German affiliate’s investment decisions. Besides, Delivery Hero had no knowledge of its shareholders’ plans to bid for the UK company.
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