July 29, 2019 / 6:29 AM / 25 days ago

Just Eat and Takeway.com agree terms of merger

LONDON, July 29 (Reuters) - European online food delivery rivals Takeaway.com and Just Eat said on Monday they had agreed in principle to create one of the largest players in the sector globally through an all-share deal.

Shareholders in London-listed Just eat will receive 0.09744 Takeaway.com shares for each of share, implying a value of 731 pence per Just Eat share, a 15% premium to the closing price on Friday. The two said they were in talks on Saturday.

Just Eat shareholders would own about 52.2% of the combined group, which together had 360 million orders worth 7.3 billion euros in 2018, the companies said on Monday.

Reporting by Paul Sandle; editing by Guy Faulconbridge

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