Takeaway-Just Eat Merger Cleared in U.K.
(Bloomberg) -- The U.K.’s antitrust authority approved Takeaway.com NV’s $8 billion acquisition of Just Eat Plc, less than a week after giving its blessing to another food-delivery deal amid the coronavirus pandemic.
Takeaway.com’s departure from the U.K. market in 2016 and the strong likelihood it wouldn’t return meant the deal didn’t produce antitrust concerns, the Competition and Markets Authority said Thursday.
Amazon.com Inc.’s purchase of a $575 million stake in Deliveroo was given a green light last week as the CMA acknowledged it needed a cash injection from the U.S. company to avoid going bust. Restaurants across London have been forced to shut during the coronavirus lockdown, leading to a significant decline in revenue for Deliveroo.
The CMA acknowledged that the virus is playing havoc with its ability to quickly gather the information it needs for its investigations. It’s trying to complete investigations in a timely manner wherever possible to give businesses greater certainty and said in Thursday’s statement that the Just Eat decision was reached 26 days ahead of deadline.
©2020 Bloomberg L.P.