Tech Investor Prose (Prosy) announced that it is a hot theme this morning after the announcement of online food ordering and delivery company. Prosus will spend 4.1 billion euros, or $ 4.29 billion, to consume only takeaway.com under its control. It represents a cash proposal for 20.30 Euro per share for stock with expecting closure by the end of the year.
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Investors will note that the proposal of Prosus represents 63% premium to eat the share price of Takeaway.com when it is closed on Friday. However, it is still below 23 euros per share that the stock started trading when it became public in 2016. This shows that the Food delivery company has struggled to please investors after ordering online, which came to an end after the COVID -19 epidemic and lockdown.
Why professionals should only eat takeaway.com
It is understandable that Prosus is eating only takeaway.com as the investment firm has previously focused on food distribution companies. This includes a 4% stake in Meetuan, 28% stake in delivery hero and 25% stake in Swigy with Efood. “Process fully supports our strategic plans, and its comprehensive resources will help accelerate our investment and development,” said Jeet’s CEO Jeets Grone said.
What does this mean for Jtkwy stock?
The news of the acquisition deal has encouraged JTKWY investors with stock up to 54.12% as this writing. It comes with heavy trade with changing hands more than 77,800 shares. For comparison, the daily average trading volume of three months stock is below 55,000 units.
Prosus, taking the company private, has intended to receive all the outstanding shares of Takeaway.com. This means that retail traders will not be able to invest in the company as the shares will no longer be listed in public exchange.
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