DURBAN – Prosus has defended its bid for the UK-listed Just Eat and said it would welcome an opportunity to engage with the shareholders to discuss the merits of its offer.
Prosus, the internet assets division of Naspers, offered a 710 pence (R132.82) a share for Just Eat last week amounting to £4.9 billion for the stake.
“The Just Eat share price on the day before we announced our offer, even with the benefit of the premium embedded within Takeaway.com’s offer, was 589p.
"In our view, this price reflected the market’s disappointment in the continued weak performance of the business, as most recently evidenced in their third quarter update.
"This reflects the strong competitive pressures the business is facing and highlights the significant investment required to compete successfully,” Prosus said yesterday on the JSE’s Stock Exchange News Service.