1. Bidding War for Just Eat Heats Up

    Bidding War for Just Eat Heats Up

    The bidding war for Just Eat has become increasingly acrimonious after activist investor Cat Rock Capital on Monday launched a scathing attack on Prosus, accusing it of “undermining” the sale of the U.K. online food-delivery company. Prosus, the Dutch-listed vehicle owned by South African tech conglomerate Naspers, last week made a £4.9 billion hostile cash bid for Just Eat JE, +0.40% in an attempt to gatecrash its already agreed merger with Takeaway.com, a Dutch food-delivery company...

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    1. Delivery Hero structured its share sales in a bizarre and uneconomic fashion that seems deliberately intended to depress Takeaway.com's stock price in the run-up to the shareholder vote on a merger with Just Eat.
    2. We categorically refute all allegations made by certain parties regarding [Takeaway shares sale].
    3. Delivery Hero's own market position as well as Prosus' position as the largest shareholder in Delivery Hero in itself gives rise to a conflict of interest.
    4. We believe our offer is superior and provides certain value to shareholders and we look forward to discussing it with them in the coming days and weeks.
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