Feb 24, 2025 - Business

Food delivery giants agree to merge

Dan Primack

Illustration of a line of delivery robots with food items on their backs — Illustration: Sarah Grillo/Axios

Prosus on Monday announced an agreement to buy food delivery company Just Eat Takeaway for €4.1 billion in cash.

Why it matters: This would make Prosus the world's fourth-largest food delivery company, per ING analysts, even though no one has ever opened a "Prosus" app to get their burrito.

The Dutch company has operations in over 70 countries, including through minority stakes in Delivery Hero, Swiggy, and Meituan.

By the numbers: The €20.30 per share deal represents a 63% premium over Friday's closing price for Just Eat Takeaway shares on the Amsterdam exchange, and a 49% premium to the three-month trading average (including when it still traded in London).

Just Eat Takeaway was formed in 2020 when Takeaway bought Just East for around $7.8 billion in stock, after having rejected a £5.1b takeover offer from Prosus.

The bottom line: Food delivery keeps consolidating.

Add Axios on Google

Food delivery giants agree to merge

What to read next