Cat Rock Capital Management, a long-term oriented investment firm and beneficial owner of approximately 17.7 million shares of the common stock of Just Eat, representing circa 3 percent of Just Eat’s outstanding shares, announced the possible merger deal of Takeaway.com with Just Eat.
“We would like to commend Chairman Mike Evans and the Board for taking clear and decisive action to realize Just Eat’s great potential, particularly in a structure that allows long-term shareholders to participate meaningfully in future value creation,” Cat Rock Capital Management said in a statement.
“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, fantastic growth prospects, and world-class management.”
“We support the Board’s work in evaluating and consummating a transaction that maximizes long-term shareholder value,” it added.
Post merger, Jitse Groen, currently CEO of Takeaway.com, would become CEO of the merged company. Paul Harrison, currently CFO of Just Eat, would become the CFO. Brent Wissink, currently CFO of Takeaway.com, and Jörg Gerbig, currently COO of Takeaway.com, would become co-COOs of the combined group.
Mike Evans, who is the Chairman of Just Eat, would become the Chairman of the Supervisory Board of the combined group. Adriaan Nühn, currently Chairman of the Takeaway.com Supervisory Board, will assume the role of vice chairman of the Supervisory Board of the combined group.
