By Ian Walker
Takeaway.com NV said Friday that it plans to delay the timetable for its merger with Just Eat PLC by one week due to a U.K. regulator’s plan to investigate the deal.
The Dutch meal-delivery company /zigman2/quotes/201653805/delayed NL:TKWY -4.92% said late Thursday that it expected the U.K. Competition and Markets Authority to launch an investigation into the deal, and the regulator confirmed this Friday.
The CMA said Friday that it was considering whether the deal would lead to a lessening of competition within the U.K. and was seeking comments from interested parties before it makes a final decision. The deadline for comments is Feb. 6.
Takeaway said it has applied for its share capital to be listed on the London Stock Exchange and it expects this to happen on Jan. 31 whereupon it will declare the offer for Just Eat wholly unconditional.
It then expects to rename the newly merged company Just Eat Takeaway.com NV /zigman2/quotes/205192708/delayed UK:JE 0.00% and start trading on the LSE from Feb. 3.
Takeaway.com won its battle to buy Just Eat earlier this month after seeing off rival Prosus N.V. /zigman2/quotes/214038022/delayed NL:PRX -4.73% . Just Eat shareholders will own a 57.5% stake of the combined group while Takeaway.com investors will hold the remaining 42.5%.
The merged entity is worth $13.89 billion based on the respective share prices of Just Eat and Takeaway.com on Jan. 9.