Takeaway.com has announced a possible bid to takeover delivery rival Just Eat Plc—a deal that could shake up the European delivery market. Although there is no certainty whether an offer will be made or on what terms it will be made on, Just Eat has confirmed that it’s a possibility.
Takeaway.com, an Amsterdam-based company, has a market capitalisation of US$5.7 billion compared to that of Just Eat, who has a US$5.3 billion valuation. Takeaway.com has recently witnessed a surge in its share price and has been expanding rapidly off the back of this. In December of last year, Takeaway.com bought Delivery Hero SE’s German operations, a strong competitor in the country’s delivery market. On the other hand, Just Eat has been struggling against the saturated delivery market, resulting in fallen share prices in the face of companies like Uber Eats and Deliveroo.