AMSTERDAM (Reuters) – Takeaway.com said on Friday its 6.2 billion pound takeover of Just Eat will proceed despite a last-minute setback when the UK competition authorities said they will probe the deal to create one of the world’s largest meal delivery companies.
FILE PHOTO: The app for Just Eat is displayed on a smartphone in this posed picture in London, Britain, August 5, 2019. REUTERS/Toby Melville
Although Takeaway said on Friday the investigation by Britain’s Competition and Markets Authority (CMA) would only delay completion of the takeover by a week, it was not clear how the intervention might impact on plans to integrate the two businesses.
Depending on initial findings, the CMA could decide to launch a formal investigation.
Should that happen, Takeaway.com would still be permitted to complete the Just Eat takeover but could be prevented from integrating the two businesses under an “interim enforcement order” until the investigation concluded.
The CMA had not…
Source Reuters Tech News