Just Eat Soars as Prosus Offers $4.3 Billion Buyout Deal In a major shakeup for the food delivery industry, Dutch tech investor Prosus has offered to acquire Just Eat Takeaway.com for €4.1 billion ($4.3 billion). The deal, announced on February 24, 2025, values Just Eat’s shares at €20.3 each, a 63% premium over its closing price on Friday. The news sent Just Eat’s stock soaring by 54%, hitting a new 52-week high, while Prosus shares fell 8.3% amid investor skepticism. The acquisition is a significant move in the competitive food delivery sector. Prosus , which already owns a 28% stake in rival Delivery Hero, is positioning itself to create a “European tech champion” by combining its technical expertise with Just Eat’s strong market presence. The €20.3 per share price reflects a substantial premium, signaling Prosus ’ confidence in Just Eat’s potential despite the company’s recent struggles. This deal comes at a critical time for Just Eat , which has faced challenges in the post-pandemic era. While the company experienced a boom during COVID-19 lockdowns, it has since struggled with slowing growth as consumer habits shifted. The acquisition could provide the resources and stability Just Eat needs to regain its footing and expand into new markets. Just Eat’s journey has been anything but smooth in recent years. The company made headlines in November 2024 when it sold its U.S. arm, Grubhub , to Wonder for $650 million, a fraction of the $7.3 billion it paid to acquire Grubhub in 2021. This move was part of Just Eat’s strategy to streamline operations and focus on its core European markets. Additionally, Just Eat delisted from the London Stock Exchange in late 2024, citing low liquidity and high regulatory costs. The company now trades exclusively on the Amsterdam Stock Exchange, a decision aimed at reducing administrative burdens and simplifying its corporate structure. Prosus CEO Fabricio Bloisi expressed excitement about the acquisition, stating that the merger would “create significant value for customers, drivers, partners, and shareholders.” By combining Prosus ’ technical and investment capabilities with Just Eat’s leading brand position in key European markets, the deal aims to accelerate growth across food delivery, groceries, fintech, and other adjacent sectors. Prosus , majority-owned by South Africa’s Naspers, has been actively investing in the tech and food delivery space. Its existing stake in Delivery Hero and now the acquisition of Just Eat positions the company as a dominant player in the European food delivery market. The announcement had an immediate impact on the stock market. Just Eat’s shares surged 54%, reflecting investor optimism about the deal and the premium offered by Prosus . Meanwhile, Prosus shares dropped 8.3%, as markets questioned the high premium and potential integration risks. Rival Delivery Hero, in which Prosus holds a significant stake, saw its shares rise 5.4%, likely due to the potential synergies and strengthened market position of its parent company. The acquisition is subject to regulatory approval and shareholder consent. If finalized, it could reshape the competitive landscape of the food delivery industry, with Prosus emerging as a dominant player in Europe. The deal also highlights the ongoing consolidation in the sector, as companies seek to scale operations and navigate the challenges of a post-pandemic world.
