Investor Aberdeen Standard Investments announced on Wednesday, October 23, that internet conglomerate Prosus needs to come up with a significantly higher bid for British meal delivery firm Just Eat.
“We believe Prosus’ current all-cash offer of 710p significantly undervalues the group,” investment director Frederik Nassauer stated.
“In our view, Prosus would need to raise their cash offer by at least 20% in order for it to be deemed attractive.”
Prosus announced its unsolicited £4.9 billion (US$5.5 billion) all-cash offer on Tuesday, October 23, in an effort to scupper an earlier all-share offer from Dutch rival Takeaway.com.
Aberdeen stated it continued to see the long-term potential and strategic value of that deal, but also stated Takeaway would probably have to increase its bid to remain attractive.
Full Content: Reuters
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