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AMSTERDAM - Prosus N.V. announced Friday that an additional 8.06% of Just Eat Takeaway.com (JET) shares were tendered during the post-closing acceptance period of its takeover offer, bringing its total ownership to 98.19% of JET’s outstanding shares.
The post-closing acceptance period, which ended on October 16, saw 16,287,885 additional shares tendered with a value of approximately €330.6 million. These shares will be settled on October 21, according to a press release issued by the companies.
Prosus had already acquired 182,084,104 shares valued at approximately €3.7 billion. The combined 198,371,989 shares represent a total investment of about €4 billion.
With its stake now exceeding 98%, Prosus plans to initiate statutory squeeze-out proceedings to obtain 100% ownership of JET. The company also announced plans to delist JET from Euronext Amsterdam, with the final trading day set for November 14 and delisting effective November 17.
The companies stated they intend to terminate the deposit agreement between JET and Deutsche Bank Trust Company Americas regarding American depositary shares "as soon as possible."
The USD cash rate per ADS for tendered shares is 4.73599, based on an applicable exchange rate of 1.1665, though this rate may differ for ADSs acquired in the upcoming squeeze-out process.
The acquisition follows Prosus’s recommended public offer for all issued and outstanding ordinary shares, American depositary shares, and CREST depositary interests in JET, which was initially outlined in an offer memorandum dated May 19, 2025.
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