Takeaway.com appears poised to beat out Dutch conglomerate Prosus for London-based food delivery company Just Eat, after raising its takeover offer to nearly £6.3 billion in stock.

Why it matters: Because appearances may be deceiving. Yes, Just Eat's board this morning recommended Takeaway's offer, and lowered the shareholder approval threshold to just 50%.

  • But this has been a fast-changing saga — last month Takeaway said it wouldn't raise its bid — and Takeaway's all-stock proposal lost significant value yesterday due to trading activity. Prosus' headline number is smaller, but is in cash

What to watch: Shareholders have until January 10 to vote.

The bottom line: "Prosus has argued that it has the resources to make the significant investments in Just East necessary to stay competitive, while Takeaway believes that it actually knows how to run a food delivery startup, rather than just own one," write Bloomberg's Natalia Drozdiak and David Hellier.

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Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 11:30 a.m. ET: 11,304,534 — Total deaths: 531,659 — Total recoveries — 6,111,195Map.
  2. U.S.: Total confirmed cases as of 11:30 a.m. ET: 2,841,124 — Total deaths: 129,689 — Total recoveries: 894,325 — Total tested: 34,858,427Map.
  3. States: Photos of America's pandemic July 4 ICU beds in Arizona hot spot near capacity.
  4. Public health: U.S. coronavirus infections hit record highs for 3 straight days.
  5. Politics: Trump extends PPP application deadlineNew Jersey gov. wants national face mask requirement
  6. World: Mexican leaders call for tighter border control as infections rise in U.S.
  7. Sports: 31 MLB players test positive as workouts resume.
  8. 1 📽 thing: Drive-in movie theaters are making a comeback.
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Tampa Bay Rays left fielder Austin Meadows bumps elbows Friday during a workout at Tropicana Field. Photo: Kim Klement/USA Today Sports via Reuters

When MLB teams arrived at the ballpark this weekend for the first summer workouts of 2020, the comforting sounds of baseball brought smiles to players' faces.

Between the lines: Even the loudest crack of the bat couldn't mask the eerie silence or distract from the ever-present coronavirus threat.

4 hours ago - Health

239 scientists call on WHO to recognize coronavirus as airborne

People walk at the boardwalk in Venice Beach. Photo: Apu Gomes/AFP via Getty Images

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The big picture: The WHO has said the virus mainly spreads via large respiratory droplets that fall to the ground once they've been discharged in coughs and sneezes. But the scientists say evidence shows the virus can spread from smaller particles that linger in air indoors.