Monday 24 February 2020

British competition watchdog looks into Takeaway’s takeover of Just Eat

Photo: Takeaway.com

The British competition authority is to look into the takeover of British food delivery service Just Eat by Dutch company Takeaway.com.

The aim of the research is to establish if the deal ‘may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services,’ the CMA said in a statement.

Takeaway.com pulled out of the British market in 2016 after failing to make any significant inroads into the local market, which is dominated by Just Eat.

Takeaway said that the CMA probe is ‘unexpected‘ but that it is confident the hotly contested takeover will go ahead.

Earlier this month, Takeaway finalised its takeover of Just Eat, after shareholders representing over 80% of the voting rights agreed to tender their shares, rejecting a rival offer by the Prosus group.

The deal creates one of the world’s largest meal delivery companies. The new combo will have 23 subsidiaries in Europe, Canada, Australia and Latin America.

The CMA is also currently investigating Amazon’s multi-million investments in Deliveroo.

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