(Reuters) – Investment firm Cat Rock on Monday lauded Amsterdam-based Takeaway.com’s (TKWY.AS) deal to buy Just Eat (JE.L) in an 8.2 billion pound ($10.05 billion) deal to create one of the world’s largest online food delivery firms.
Activist investor Cat Rock, which has holdings in both companies, had been pushing Just Eat to merge with a rival such as Takeaway, which has been driving sector consolidation.
“The proposed transaction is excellent news for Just Eat shareholders. The combined company would be an exceptionally high-quality business with formidable market positions in major countries,” Alex Captain, Founder and Managing Partner, Cat Rock Capital, said in an email.
Cat Rock owns an about 2.5% stake in Just Eat and about 4% of Takeaway.com.
Reporting by Noor Zainab Hussain in Bengaluru