July 29, 2019 / 1:22 PM / 4 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 (TKWY.AS) deal to buy Just Eat (JE.L) in an 8.2 billion pound ($10.05 billion) 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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