Prosus N.V., the Dutch technology investor, expressed strong confidence on Monday that it will secure early approval from the European Union’s antitrust regulators for its €4.1 billion ($4.72 billion) acquisition of Just Eat Takeaway.com, Reuters reported.
The acquisition, which aims to create a leading “European tech champion” in food delivery, was officially submitted for review to the European Commission last Friday.
Prosus emphasized its constructive engagement with the Commission and its commitment to obtaining regulatory clearance and completing the transaction swiftly. The European Commission, responsible for enforcing competition rules across the 27-member bloc, may approve the deal outright, require concessions, or open a more detailed four-month investigation if it identifies serious concerns.
The proposed deal would position Prosus as the world’s fourth-largest food delivery company, behind established giants such as Meituan, DoorDash, and Uber, according to ING analysts.
Strategic Vision and Offer Details
Since its launch in 2000, Just Eat Takeaway (JET) has grown into a major player in the global on-demand food delivery market through organic growth and acquisitions. Recently, JET has sharpened its focus on key European markets by divesting its U.S. operations, signaling a shift from portfolio optimization to growth acceleration.
Prosus’s acquisition offer values 100% of JET’s shares at approximately €4.1 billion, representing a 63% premium over the company’s closing share price as of February 21, 2025, and a 49% premium over the three-month volume-weighted average price. The recommended all-cash offer price is €20.30 per ordinary share, with the acceptance period running from May 20 to July 29, 2025. Completion is expected by the end of 2025, pending shareholder approval and regulatory clearance.
The transaction has been unanimously recommended by both JET’s management and supervisory boards, who have highlighted the offer’s attractive financial terms and alignment with the company’s long-term strategy.
Leveraging AI and Industry Expertise
Prosus plans to leverage its extensive experience in food delivery, including its wholly owned Brazilian platform iFood, which has successfully integrated advanced AI technologies to improve operations and customer experience. Executives from Prosus see a significant opportunity to apply similar innovations at JET, enhancing service reliability, optimizing logistics, and strengthening relationships with customers, restaurants, and couriers across Europe.
Prosus CEO Fabricio Bloisi stated, “Europe is at a pivotal moment to create a new generation of AI-powered tech champions, and this transaction is a unique opportunity to lead that transformation.” JET founder and CEO Jitse Groen welcomed the offer, urging shareholders to support the deal at the upcoming extraordinary general meeting (EGM) scheduled for July 8, 2025.
Looking Ahead
The acquisition reflects a broader industry trend of consolidation and technological investment in the competitive food delivery market. Prosus’s entry into Europe’s food delivery sector aims to capitalize on growing demand and technological advancements while providing shareholders with immediate value amid uncertain market conditions.
Fairness opinions supporting the deal have been provided by Gleacher Shacklock LLP, Morgan Stanley & Co. International plc, and Lazard B.V., adding further credibility to the transaction.
As the deal proceeds through regulatory and shareholder scrutiny, Prosus remains optimistic about creating lasting value for all stakeholders in the evolving European food delivery landscape.
