Prosus reached a conditional agreement to acquire Just Eat Takeaway for 4.1 billion euros ($4.29 billion), or 20.30 euros a share, in cash, the companies said. This represents a 63% premium to the food-delivery group's closing price on Friday, but is below the price of 23 euros a share at which the company listed back in 2016.

Just Eat Takeaway.com (JTKWY) is a hot topic this morning after tech investor Prosus (PROSY) announced it will acquire the online food ordering

Why take only a nibble when you can eat the whole meal? That seems to be the logic of Prosus’ €4.1bn acquisition of Just Eat Takeaway. The Amsterdam-listed tech investor was once a ragbag of investments orbiting around one stellar asset, a $146bn stake in Chinese tech giant Tencent, bought for a song in 2021.

Prosus' deal was a bit unexpected, Barclays analysts write in a note. "We had thought any move for Just Eat Takeaway might come after other strategic moves in food delivery," they say. The technology investor didn't have a pre-existing stake in Just Eat and doesn't have large economic exposure to the countries--Germany,

Just Eat Takeaway is set to be acquired by investment group Prosus in a €4.1bn deal that will lead to the European food delivery company’s delisting from public markets.