Prosus has been accused of “selling down” and trying to depress the share price of its rival Takeaway.com in the fight to gain control of Just Eat.
Browsing: Prosus
Prosus may be a bit late with its offer to buy Just Eat: Takeaway.com and Just Eat announced their proposed transaction at the beginning of August and have already published a schedule of events to finalise it.
Naspers spin-off, Netherlands-listed Prosus, is making an audacious, R93.5-billion hostile bid to buy London-listed Just Eat.
Tuesday’s dramatic hostile counter-bid for the British Internet takeout company Just Eat arrived almost fully baked. But the new offer isn’t that tempting – it needs a big dollop of dessert to make it irresistible.
Prosus, which listed in Amsterdam just last week, is splitting opinion among the first investment banks to cover the stock.
The astonishing things is that shareholders were asked to approve the new scheme – and did – without knowing what the performance condition was.
Investors piled into Naspers’s newly listed Dutch unit, holding assets including a lucrative stake in Tencent Holdings, sending its shares soaring on their trading debut in Amsterdam.
When Naspers’s Latin America chief cold-called Alec Oxenford in 2010, he got straight to the point: he wanted to buy a majority stake of the Argentinian entrepreneur’s online classifieds business.
Three investment banks – Goldman Sachs, JPMorgan and Morgan Stanley – will be paid €7.2-million each for their roles as lead financial advisors in Naspers’s listing of Prosus in Amsterdam.
Naspers said a newly created entity containing assets including a stake in Chinese internet giant Tencent Holdings will be valued at about $100-billion (R1.5-trillion).