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Money Just Eat takeover of Hungryhouse gets the nod

01:00  13 october  2017
01:00  13 october  2017 Source:   news.sky.com

Ulker not pursuing Newcastle takeover

  Ulker not pursuing Newcastle takeover Contrary to earlier claims, it looks as though Murat Ulker, Turkey’s richest man, is not pursuing a takeover bid for Newcastle United. It was confirmed yesterday that the club was being put up for sale by current owner Mike Ashley, prompting links to a number of different potential buyers – including Ulker. The 58-year-old is currently the chairman of one of the largest companies in Turkey, called Yildiz Holding. The company’s press officer, as quoted by Turkish Football, denied claims that Ulker was aiming to take over the Magpies. “The company is not buying Newcastle United and no negotiations have taken place. We wish the club success in finding a new owner.” Ulker has links in football, and has been prominently partnering Fenerbahce in the last 10 years. However, it’s not looking as though Newcastle will be the next club he invests in. The businessman is reportedly worth a colossal total of £2.8bn, and was claimed to have seen Newcastle, as a club, as a hugely attractive proposition. However, it appears as though Ulker will not be Newcastle’s new owner.

Just register a few details. Get access. As the takeaway delivery company awaits the provisional findings of the Competition and Markets Authority’s in-depth, or phase two, investigation into its proposed purchase of Hungryhouse , expected this week, experts and analysts are less certain.

Just Eat takeover of Hungryhouse gets the nod from regulator. The merger of online food takeaway delivery rivals Just Eat and Hungryhouse is on course to be cleared following a provisional ruling by the competition regulator.

Just Eat provides a food ordering platform and drivers to restaurants © Other Just Eat provides a food ordering platform and drivers to restaurants

The merger of online food takeaway delivery rivals Just Eat and Hungryhouse is on course to be cleared following a provisional ruling by the competition regulator.

The Competition and Markets Authority (CMA) announced in May that it was to examine whether restaurants faced the prospect of getting a worse deal under the proposed £200m tie-up - distorting competition in the process.

Their business models work by providing a food ordering platform and delivery drivers to restaurants.

The eateries pay for the service to expand their reach and customer base.

EasyJet Founder Set to Launch Just Eat Rival EasyFood

  EasyJet Founder Set to Launch Just Eat Rival EasyFood EasyJet founder Stelios Haji-Ioannou is launching a takeout delivery service to rival Just Eat Plc, as the British entrepreneur seeks to grab a slice of the U.K.’s fast-growing online market. EasyFood will let Britons order home deliveries from local restaurants and takeouts through its website or a mobile app. The service will initially target Birmingham and London, with a full release expected in six weeks to two months, according to a person familiar with the matter.EasyFood will further intensify competition for market leader Just Eat, which has reported slowing growth amid competition from Deliveroo, Amazon.com Inc.

Just Eat acquisition of Hungyhouse gets nod from competition watchdog. Just Eat 's £200m takeover of Hungryhouse in trouble. Increased appetite for takeaways helps Just Eat to push up sales.

Online takeaway ordering firm Just Eat is to face a full-blown investigation from the competition watchdog into its proposed £200million takeover of rival Hungryhouse . Just Eat and Hungryhouse are both takeaway ordering firms

Rivals include UberEATS and Deliveroo.

Martin Cave, who chaired the CMA's investigation, said: "We carefully assessed competition in this rapidly evolving industry to make sure this merger would not result in increased prices or reduced quality of offering for either restaurants or their customers.

"We obtained evidence from all the major industry participants and carried out surveys, with the public and restaurants, to understand how the merger could impact both types of customers.

"We found that Hungryhouse was a weak competitor to Just Eat and so competition is unlikely to be substantially reduced by this merger, especially given the entry and rapid expansion of innovative suppliers in this sector."

The CMA said its provisional findings were now the subject of a consultation exercise, lasting until 2 November.

It will announce its final decision in the following weeks.

Just Eat first announced the takeover in December last year.

It said on Thursday: "We are pleased that the CMA has provisionally concluded that this transaction does not lessen competition.

"We look forward to continuing to deploy our technology and expertise to help more independent restaurants develop and grow their businesses, while offering an even better service to consumers."

Its shares were up more than 5% in late morning trade on the London Stock Exchange.

US hedge fund wants break-up of £35bn Shire .
A US hedge fund is demanding a string of divestments at the FTSE-100 biotech group Shire, underlining growing interest among activist investors in large European companies. Sky News has learnt that Sachem Head Capital Management is urging the board of Shire, which specialises in treatments for rare diseases and neuroscience products, to explore a sale or spin-off of several of its assets.The move, which has been raised during discussions between the hedge fund and Shire directors in recent months, comes after Sachem Head disclosed during the summer that it had acquired a small stake in the pharmaceuticals group.

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