The bidding battle for Just Eat has proved a strangely lacklustre affair, one that has conspicuously failed to whet the appetite of investors (Dominic Walsh writes). Then again, should we be surprised?
Take yesterday’s comments from Jitse Groen, chief executive of Takeaway.com, one of the competing bidders: “I can fully understand that the current cash values of both our and the competing offer aren’t particularly appealing to the Just Eat shareholders and seem to be quite far removed from the fair value of Just Eat.”
Mr Groen, 41, is not much of a salesman, obviously. If he was hoping to persuade Just Eat shareholders that his recommended all-paper offer, giving them 52.2 per cent of the enlarged share capital, was superior to that of Prosus
