A food fight is taking place for Europe's delivery market

What's happening:

• Takeaway.com says it won't raise its $5.5 billion offer for Just Eat, despite a $6.3 billion unsolicited bid from Prosus, the Dutch conglomerate controlled by Naspers.
• Takeaway is betting that Just Eat will continue to use a synergy shield to swat away Prosus, as it has done so far, and eventually persuade some dissident shareholders.
• Prosus, meanwhile, is resting on its bank account. And could even increase its existing bid, to make Takeaway's offer look even smaller.

Go deeper:

• The physical footprint of the digital world
• Prosus offers $6.3 billion to buy British food delivery company
• Uber rides into grocery delivery