just eat takeaway press release

Just Eat Takeaway com N : 07-10-2020 Press release - Just Eat Takeaway.com EGM approves acquisition of Grubhub, https://data.fca.org.uk/#/nsm/nationalstoragemechanism, https://www.justeattakeaway.com/investors/general-meeting/, JUST EAT TAKEAWAY.COM : Goldman Sachs remains Neutral. These documents are available free of charge from the sources indicated above, and from Grubhub by going to its investor relations page on its corporate website at investors.grubhub.com. We were pleased to see management present a clear, data-driven vision for the business at its recent Capital Markets Day. June - Just Eat Takeaway.com completes acquisition of Grubhub for $7.3 billion. "On behalf of the entire Management Board, I want to thank Adam for all his contributions at Grubhub," said Jitse Groen, CEO of Just Eat Takeaway.com. (1) According to CRC estimates; share price and capitalization according to S&P Capital IQ, as of 22 October 2021; EBITDA reflects Adjusted EBITDA, based on the Companys FY22 GTV guidance and the low-end of the Companys long-term Adjusted EBITDA / GTV margin target, both provided at the Companys Capital Markets Day on 21 October 2021; GTV represents Gross Transaction Value, as defined by the Company. Charlotte Balbirnie Private Securities Litigation Reform Act of 1995. We have supported Jitse Groen and his management team for over four years as shareholders of JET and its predecessor companies. Real-time Grubhub in the US was consolidated in accordance with IFRS from 15 June 2021. Statement from Matt Maloney , founder of Grubhub: "I couldn't be more excited to enter this next chapter of Grubhub's story with the global leadership and experience of the Just Eat Takeaway team. See. Forward- looking statements involve substantial risks, known and unknown, uncertainties, assumptions and other factors that may cause actual results, performance or achievements to differ materially from future results expressed or implied by such forward- looking statements including, but not limited to, the occurrence of any event, change or other circumstances that could give rise to the right of one or both of Grubhub or Just Eat Takeaway.com to terminate the merger agreement; the ability to obtain approval by Grubhub stockholders on the expected schedule or at all; difficulties and delays in integrating Grubhub's and Just Eat Takeaway.com's businesses; risks that the proposed merger disrupts Grubhub's or Just Eat Takeaway.com's current plans and operations; failing to fully realize anticipated synergies, cost savings and other anticipated benefits of the proposed merger when expected or at all; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed merger; the risk that unexpected costs will be incurred; the ability of Grubhub or Just Eat Takeaway.com to retain and hire key personnel; the diversion of management's attention from ongoing business operations; uncertainty as to the value of the Just Eat Takeaway.com ordinary shares to be issued in connection with the proposed merger; uncertainty as to the long-term value of the common stock of the combined company following the proposed merger; the continued availability of capital and financing following the proposed merger; the outcome of any legal proceedings that may be instituted against Grubhub, Just Eat Takeaway.com or their respective directors and officers; changes in global, political, economic, business, competitive, market and regulatory forces; changes in tax laws, regulations, rates and policies; future business acquisitions or disposals; competitive developments; and the timing and occurrence (or non-occurrence) of other events or circumstances that may be beyond Grubhub's and Just Eat Takeaway.com's control. The move marks a big win for Just Eat Takeaway, which has a sizable presence in. In addition, a copy of the voting results will be submitted to the UK Financial Conduct Authority's National Storage Mechanism and will be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. North America comprises Canada and the United States. Headquartered in Amsterdam, the Company is focused on connecting consumers and restaurants through its platforms. read more. Any estimates, projections or potential impact of the opportunities identified by Cat Rock Capital herein are based on assumptions that Cat Rock Capital believes to be reasonable as of the date hereof, but there can be no assurance or guarantee that actual results or performance will not differ, and such differences may be material and adverse. Today, JET trades at less than 8x 2022 normalized EBITDA using Company guidance for 2022 GTV and the low-end of its long-term margin target. Just Eat Takeaway.com and Amazon enter into commercial - Grubhub 30 September 2022. Clearly, JET must take urgent action to re-establish its credibility with the public markets. Neither the information nor any opinion contained in this announcement constitutes an inducement or offer to purchase or sell or a solicitation of an offer to purchase or sell any securities or other investments in Just Eat Takeaway.com or any other company by Cat Rock Capital or any fund or other entity managed directly or indirectly by Cat Rock Capital in any jurisdiction. Headquartered in Amsterdam , the Company is focused on connecting consumers and restaurants through its platforms, offering consumers a wide variety of food choice. Merrill Lynch International, which is authorised by the Prudential Regulation Authority (the " PRA ") and regulated by the FCA and the PRA in the United Kingdom , is acting as sponsor exclusively for Just Eat Takeaway.com in connection with the Transaction and for no one else and will not be responsible to anyone other than Just Eat Takeaway.com for providing the protections afforded to clients of Merrill Lynch International or for providing advice in connection with the Transaction. 15, 2021, 03:01 AM AMSTERDAM, June 15, 2021 /PRNewswire/ -- The Transaction represents Just Eat Takeaway.com's entry into online food delivery in the United States and builds on the. Just Eat Takeaway.com completed its acquisition of the U.S. food ordering platform for $7.3 billion barely a year ago, pipping Uber and Germany's Delivery Hero to a deal after a heated takeover . Migdal, a U.S. national, is currently the CEO of SkipTheDishes, Just Eat Takeaway.com's Canadian subsidiary. The combination of Just Eat and Takeaway.com has rapidly grown to become a leading online food delivery marketplace with operations in the United Kingdom, Germany, the Netherlands, Canada, Australia, Austria, Belgium, Bulgaria, Denmark, France, Ireland, Israel, Italy, Luxembourg, New Zealand, Norway, Poland, Portugal, Romania, Spain and Switzerland, as well as through partnerships in Mexico, Colombia and Brazil. Important Notice Relating to the Sponsor and Financial Advisers. The total number of voting rights in the Company is therefore 211,621,200 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules and the Dutch Financial Markets Supervision Act ( Wet op het financieel toezicht ). Now the newly formed entity is set to make . We have been deeply and passionately committed to the success of JET over the past four years, and the Company is our largest investment. Just Eat Takeaway.com's cash and cash equivalents amounted to 2,020 million as per 31 December 2022. 25 April 2022 Dear Fellow Just Eat Takeaway.com Shareholders: As you may know, Cat Rock Capital ("we" or "Cat Rock") is a long-term oriented investment fund based in the United States that. +1 (203) 992-4630 Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC regarding the proposed merger when they become available. AMSTERDAM , June 15, 2021 /PRNewswire/ -- The Transaction represents Just Eat Takeaway.com's entry into online food delivery in the United States and builds on the strategic rationale for the Company's merger with Just Eat plc. Below are the events leading to the deal: January - Dutch food delivery company Takeaway.com wins a prolonged battle for control of British peer Just Eat against Dutch internet conglomerate Prosus (PRX.AS). CBalbirnie@keplercomms.com, Cat Rock Capital sends letter to Just Eat Takeaway.com Board urging sale or spin-off of Grubhub by end of 2021. In July 2022, the San Francisco Board of Supervisors amended its fee cap, which is the latest in a growing trend among cities that have in recent months rolled back pandemic-era price controls. Instead, this event only highlighted the magnitude of the issue. The success of DoorDash, Deliveroo, Delivery Hero, and Uber in entering online grocery underscores the strategic necessity of a converged consumer proposition. Southern Europe, Australia and New Zealand (ANZ) saw notable reduction in losses and with peak investment now behind us, management expects profitability to continue to improve going forward. Founder and Managing Partner While forward-looking statements are Grubhub's and Just Eat Takeaway.com's current predictions at the time they are made, you should not rely upon them. amount paid for Grubhub according to Company press release titled, " Just Eat . Euronext Amsterdam 2) Competition: JETs weak standing in the public markets invites competitors to continue aggressively investing in the Companys markets. He brings more than 16 years of experience in food delivery, having co-founded GrubCanada, Canada's first national food delivery platform in 2008. Revenue increased by 4% in the first six months of 2022, primarily driven by the expiration of several mandatory fee caps enforced by federal and local governments across the US and Canada, increased ATV and currency movements. Investor Contact Refer to our Glossary issued as part of our Annual Report 2021 for definitions and Appendix 2 for reconciliations to the closest IFRS-based equivalent where applicable. The Company has an almost unlimited addressable market and will grow rapidly for the foreseeable future. ", H1 2021 was a record period for Just Eat Takeaway.com in Order and Gross Transaction Value (GTV) growth due to, In H1 2022, Adjusted EBITDA improved by 29% to minus 134 million (minus 0.9% of GTV). As a result of the Transaction, New Just Eat Takeaway.com Shares (represented by New Just Eat Takeaway.com ADSs) have now been issued for the benefit of Grubhub Stockholders in satisfaction of the consideration due under the terms of the Transaction. Cat Rock Capital Issues Presentation on Just Eat Takeaway.com All rights reserved. read more. Financial Market Data powered by QuoteMedia. Nothing contained herein constitutes or should be construed as (i) investment, tax, financial, accounting or legal advice (ii) a representation that any investment or strategy is suitable or appropriate to any individual investor or (iii) a personal recommendation to any individual investor. Just Eat - Wikipedia This is an excerpt of the original content. This. Just Eat Takeaway.com reiterated that it continues to actively explore the partial or full sale of Grubhub. The industry leader for online information for tax, accounting and finance professionals. Northern Europe continued to generate significant profits with an Adjusted EBITDA of 124 million in H1 2022. Just Eat Takeaway com N : 08-10-2021 Press release - Just Eat Takeaway Just Eat Takeaway.com makes significant progress towards profitability in H1 2022, Northern Europe, North America, and UK and Ireland were Adjusted EBITDA positive in Q2 2022, Statement of Jitse Groen, CEO of Just Eat Takeaway.com: "After a period of exceptional growth, Just Eat Takeaway.com is now two times larger than it waspre-pandemic.Whilst this growth required significant investment, we have continued to focus on executing our strategy to build and operate highly profitable food delivery businesses. ". Bank of America Europe DAC, Amsterdam Branch (together with Merrill Lynch International, " BofA Securities "), a subsidiary of Bank of America Corporation, is acting as financial adviser exclusively for Just Eat Takeaway.com in connection with the Transaction and for no one else and will not be responsible to anyone other than Just Eat Takeaway.com for providing the protections afforded to its clients or for providing advice in connection with the Transaction. As a result of the Transaction, the Enlarged Group is now built around four of the world's most attractive markets in online food delivery: the United States , the United Kingdom , the Netherlands and Germany , increasing the Enlarged Group's ability to deploy capital and resources to strengthen its competitive positions in all markets. Dedicated to connecting diners with the food they love from their favorite local restaurants, Grubhub elevates food ordering through innovative restaurant technology, easy-to-use platforms, and an improved delivery experience. The path forward for JET is therefore very clear JET must unlock the value of Grubhub through a sale or spin-off of the business this year. The Grubhub business was consolidated from 15 June 2021. JET Management Has Failed to Fix Deep and Damaging Undervaluation of Equity, JET Stock Price Embeds Significant Negative Value for Grubhub Despite $10 billion of GMV, Cat Rock Urges Immediate Action to Unlock Grubhub Value via Sale or Spin-Off. JUST EAT TAKEAWAY.COM N.V. (TKWY) Add to my list Report Summary Quotes Charts News Ratings Calendar Company Financials Consensus Revisions Funds Summary All News Analyst Reco. - 08:43:27 2023-07-05 am EDT. This press release contains inside information as meant in clause 7(1) of the Market Abuse Regulation. We were also encouraged by managements view that US consolidation is inevitable and that it expects to be involved in this consolidation.. As a result, Grubhub Stockholders have received New Just Eat Takeaway.com ADSs representing approximately 30% of the Company's issued share capital as of completion of the Transaction. Australia's fourth largest pension fund suspended new work with PwC Australia on Tuesday, the latest in a string of funds to pause work with the accounting firm over a scandal which first surfaced in January over the misuse of government tax plans. This announcement contains certain forward-looking statements and information that are based on Cat Rock Capitals beliefs, as well as assumptions made by, and information currently available to, Cat Rock Capital. Northern Europe comprises Austria, Belgium, Denmark, Germany, Luxembourg, Norway, Poland, Slovakia, Switzerland and the Netherlands. - 08:43:27 2023-07-05 am EDT. Our three largest segments, representing 90% of our Gross Transaction Value, were Adjusted EBITDA positive in the second quarter of 2022.
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