LONDON (Reuters) – Just Eat (L:) shareholder Cat Rock Capital on Tuesday urged investors to back an all-share merger with Takeaway.com (AS:), saying it believed the combination could create a company worth 1,200 pence a share in little over a year.
Just Eat shareholders have two offers to consider: a tie-up between the British group and its Netherlands-based peer Takeaway.com and a 710 pence a share cash offer from technology company Prosus (AS:).
Cat Rock, which controls about 3% of Just Eat’s shares, said the Prosus offer significantly undervalued Just Eat and shared none of the future potential of the business with Just Eat shareholders.
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