LONDON (Reuters) - Netherlands-based Prosus (AS:PRX) has tweaked its offer for online takeaway delivery platform Just Eat (L:JE), lowering the acceptance threshold for investors as it battles Takeaway.com to buy the British company.
Just Eat had previously agreed on the terms of a 4.7 billion pound (.1 billion) all-share deal that prompted internet giant Prosus to weigh in with an unsolicited cash offer of .3 billion, or 710 pence per share, setting an increasingly fractious contest in motion.
Prosus on Monday published its cash offer document and lowered the threshold for shareholder approval to 75% from 90%. It said a fall in the value of Takeaway's offer since it was announced, due to a drop in the firm's share price and currency moves, meant investors should accept its terms.
Prosus is a Dutch internet conglomerate that was spun out of South Africa's Naspers (J:NPNJn).
