The Dutch food delivery Takeaway.com injected 5 billion pounds (5.6 billion €) to merge with its British rival Just Eat.
The two companies will now be united to compete on more equal terms against their major competitors, Uber and Deliveroo.
Both meal delivery companies confirmed on Friday the plans of the merger and announced on Monday to have agreed on the conditions.
Just Eat shareholders will receive 0.09744 Takeaway action per held title (from Just Eat), representing a 15% premium as per Friday's closing price. Just Eat shareholders will then hold 52.2% of the merged entity.
If the merger is approved, company headquarters will be based in Amsterdam, but will keep its UK Stock Exchange listing. Current Takeaway CEO, Jitse Groen, will keep his position.
The Brussels Times
