December 2, 2019 / 7:41 AM / 8 months ago

Just Eat investor Cat Rock puts 925 pence per share price on engagement with Prosus

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/File Photo

LONDON (Reuters) - Investors in Just Eat should back the all-share merger with unless rival bidder Prosus lifts its offer for the food delivery platform to 925 pence per share, one of its biggest shareholders said on Monday.

Just Eat shareholders have two offers to consider: a tie-up between the British group and its Netherlands-based peer and a 710 pence-a-share cash offer from technology company Prosus.

Cat Rock, which has been vocal in its support of the Takeaway deal, said in a letter to other shareholders on Monday that Prosus had exaggerated the challenges facing Just Eat to justify its low price. It said Prosus should offer at least 925 pence for the company.

Reporting by Kate Holton; editing by James Davey

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