Just Eat Takeaway.com set to be acquired by tech investor Prosus for nearly $4.3B

ABC News - Feb 24th, 2025
Open on ABC News

Technology investment company Prosus has announced an all-cash deal to acquire European food delivery giant Just Eat Takeaway.com for 4.1 billion euros ($4.29 billion). The acquisition will value Just Eat Takeaway.com at 20.30 euros ($21.24) per share and position Prosus as the fourth-largest food delivery group globally. This move will notably enhance Prosus' food delivery portfolio, especially in Europe, where Just Eat Takeaway.com has recently strengthened its focus following the sale of its U.S. operations, Grubhub, to Wonder Group. CEO Fabricio Bloisi of Prosus highlighted the potential to create a 'European tech champion' with this acquisition, while Just Eat Takeaway.com CEO Jitse Groen emphasized that the offer supports the company's strategic direction.

The acquisition reflects the dynamic and competitive nature of the food delivery industry, which has seen significant shifts with the entry of major players like Uber Eats and DoorDash. Founded in 2000, Just Eat Takeaway.com has been a pioneer in the sector but faces challenges from customers frequently switching platforms. The Prosus deal, which is subject to regulatory approval, is expected to be finalized by year-end. The announcement led to a 54% surge in Just Eat's shares, while Prosus experienced a 7.29% drop in its stock value. This development marks a significant consolidation in the European tech and food delivery markets, with potential implications for competition and market dynamics across the continent.

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RATING

7.0
Fair Story
Consider it well-founded

The article provides a detailed and largely accurate account of the acquisition of Just Eat Takeaway.com by Prosus. It effectively communicates the strategic motivations and financial details of the deal, making it relevant to business and investment audiences. However, the story could benefit from more diverse perspectives and deeper analysis of potential challenges and market implications. While the article is timely and well-structured, its reliance on corporate statements limits the range of viewpoints presented. Enhancing source diversity and transparency would strengthen the article's overall quality and reliability.

RATING DETAILS

8
Accuracy

The story provides a largely accurate account of the acquisition of Just Eat Takeaway.com by Prosus. It correctly states the acquisition amount as 4.1 billion euros and the per-share value as 20.30 euros. These figures align with the cited sources. The claim that the acquisition will make Prosus the fourth-largest food delivery group globally is also supported by external sources, although further verification of current rankings would be beneficial. The story accurately reports on Prosus' existing investments in iFood and Delivery Hero, as well as Just Eat Takeaway.com's operational focus on Europe after exiting the U.S. market. However, the story could further benefit from corroborating the exact financial details of the Grubhub sale and the market reactions, which are mentioned but require precise data for complete verification.

7
Balance

The article presents the acquisition from both Prosus' and Just Eat Takeaway.com's perspectives, highlighting strategic benefits and market positioning. However, it primarily focuses on the positive aspects of the deal for both companies, such as growth potential and market expansion. The article does not delve into potential challenges or negative implications, such as integration risks or market competition. Including perspectives from industry analysts or competitors could provide a more balanced view of the acquisition's potential impact.

8
Clarity

The article is well-structured and uses clear, straightforward language to convey the details of the acquisition. It logically presents the sequence of events, starting with the announcement and moving through the strategic implications and market reactions. The tone is neutral, focusing on factual reporting rather than sensationalism. However, some complex financial terms and industry jargon might be challenging for readers unfamiliar with corporate acquisitions.

6
Source quality

The article references information from corporate announcements and statements from company executives, which are credible sources for the details of the acquisition. However, it lacks a diverse range of sources, such as financial analysts or independent experts, who could offer additional insights or critique. The reliance on company statements could introduce bias, as these sources are inherently interested in presenting the acquisition positively.

6
Transparency

The article clearly states the basic facts of the acquisition, including financial terms and strategic intentions. However, it does not provide detailed explanations of the methodology behind the valuation or the strategic analysis of the deal's implications. The absence of disclosed potential conflicts of interest or the basis for some claims, such as market positioning, slightly diminishes transparency. Greater disclosure of the analytical methods or expert opinions would enhance transparency.

Sources

  1. https://www.morningstar.com/news/dow-jones/202502245418/prosus-to-buy-just-eat-takeawaycom-for-43-billion-2nd-update
  2. https://sifted.eu/articles/just-eat-acquisition-prosus-news
  3. https://newsroom.justeattakeaway.com/en-WW/247234-just-eat-takeaway-com-and-prosus-agree-on-recommended-eur-20-30-per-share-all-cash-offer-equivalent-to-eur-4-1bn-for-100-of-the-shares
  4. https://www.marketscreener.com/quote/stock/PROSUS-N-V-66148584/news/Just-Eat-Takeaway-com-set-to-be-acquired-by-tech-investor-Prosus-for-nearly-4-3-billion-49143455/