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Just Eat PLC said Tuesday that it has rejected the latest Prosus N.V. takeover bid, and that it continues to recommend that shareholders accept the Takeaway.com N.V. offer.
The company JE, +0.51% said the board continues to believe the 740-pence-a-share offer by Prosus PRX, -0.08% significantly undervalues Just Eat and its assets and prospects, both on a standalone basis and as a part of the proposed combination with Takeaway.com TKWY, -2.14% .
The board also said that it continues to believe that the Takeaway.com combination is based on a compelling strategic rationale that allows shareholders to participate in the upside potential of the enlarged group, and will deliver greater value creation than the Prosus offer.
