Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.


Just Eat Takeaway faces shareholder backlash over dealmaking

(Reuters) – Just Eat NV board was under fire on Wednesday from investors at its AGM who criticised its dealmaking and sagging share price as the boom in online food ordering fades along with the pandemic in many key markets.

Below are the events leading to the showdown at the AGM:


January – Dutch food delivery company wins a prolonged battle for control of British peer Just Eat against Dutch internet conglomerate Prosus. The deal creates Europe’s largest online meal delivery company.

October – Just Eat says its shareholders approved its proposed purchase of U.S. rival Grubhub.


June – Just Eat completes acquisition of Grubhub for $7.3 billion.

Oct. 15 – Investor Cat Rock increases stake in company to 5.93%.

Oct. 21 – Just Eat CEO Jitse Groen says he expects Grubhub to eventually be part of a consolidation in the U.S. delivery market, but signals he is not open to selling the business.

Oct. 25 – Investor Cat Rock urges management to consider selling Grubhub, saying divesting or spinning off the unit would improve the company’s valuation.

Nov. 10 – Cat Rock repeats its call to divest Grubhub, the day after competitor DoorDash made a big move into European markets with a $8.1 billion purchase of Finland-based Wolt Enterprises OY.

Nov. 17 – Groen says he has no plans to sell Grubhub, but the company is actively looking for strategic partnerships for the business.

December – Cat Rock, the company’s second-largest shareholder after Groen, increases stake to 6.88%.


Feb. 8 – Just Eat announces it will delist its shares from the Nasdaq stock exchange in a bid to limit costs and regulatory burdens.

Feb.13 – CEO Groen says the decision to de-list from Nasdaq should not be taken as an indication of plans to sell Grubhub.

March – Groen says the company remains in talks to find a strategic partner for Grubhub and that he would be willing to consider a minority position in whatever deal emerges.

April 20 – In an abrupt turnaround, the company says it is looking at selling Grubhub, pressured by investors to revive its shares amid stiff competition and a fading pandemic boost.

April 25 – Cat Rock calls for a major shake-up of the company by voting out its CFO and several members of its supervisory board.

May 4, 2022 – Two of its most senior leaders step down, just hours before the AGM. Shares fall nearly 6%.

Chairman Adriaan Nuehn, whose position had been under pressure, will not seek reappointment while longtime Chief Operating Officer Joerg Gerbig is under investigation for “possible personal misconduct at a company event.

($1 = 0.9477 euros)


(Compiled by Elena Vardon and Juliette Portala, editing by Josephine Mason)

Continue Reading

Why pay for news and opinions when you can get them for free?

       Subscribe for free now!

By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Posts