July 29, 2019 / 1:23 PM / 3 months ago

Activist investor Cat Rock calls Just Eat, Takeaway.com deal 'excellent news'

FILE PHOTO - Alexander Captain, Founder, Managing Partner and Portfolio Manager at Cat Rock Capital Management LP, presents during the 2018 Sohn Investment Conference in New York City, U.S., April 23, 2018. REUTERS/Brendan McDermid

(Reuters) - Investment firm Cat Rock on Monday lauded Amsterdam-based Takeaway.com’s deal to buy Just Eat in an 8.2 billion pound deal to create one of the world’s largest online food delivery firms.

Activist investor Cat Rock, which has holdings in both companies, had been pushing Just Eat to merge with a rival such as Takeaway, which has been driving sector consolidation.

“The proposed transaction is excellent news for Just Eat shareholders. The combined company would be an exceptionally high-quality business with formidable market positions in major countries,” Alex Captain, Founder and Managing Partner, Cat Rock Capital, said in an email.

Cat Rock owns an about 2.5% stake in Just Eat and about 4% of Takeaway.com.

Reporting by Noor Zainab Hussain in Bengaluru

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