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MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  Just Eat Takeaway.com N.V.    TKWY   NL0012015705

JUST EAT TAKEAWAY.COM N.V.

(TKWY)
  Report
Delayed Quote. Delayed Euronext Amsterdam - 11/27 11:35:00 am
88.18 EUR   +0.57%
11/16JUST EAT TAKEAWAY.COM : RBC reaffirms its Neutral rating
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11/12JUST EAT TAKEAWAY.COM : Jefferies reiterates its Buy rating
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11/09JUST EAT TAKEAWAY.COM N.V. : Crossing thresholds
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Just Eat Takeaway com N : Takeaway.com shareholders vote yes to Grubhub, no to US CEO's pay

10/07/2020 | 11:15am EST

AMSTERDAM, Oct 7 (Reuters) - Just Eat Takeaway.com NV , the online food-ordering company, on Wednesday said its shareholders approved its proposed $6.9 billion purchase of rival Grubhub, but rejected a pay package for the U.S company's CEO Matthew Maloney.

Takeaway agreed in June to buy Grubhub in a deal to create a transatlantic group which would be the biggest food delivery business outside China.

Takeaway founder and CEO Jitse Groen is to become head of the Takeaway-Grubhub combination, which will be based in Amsterdam, while Grubhub CEO Maloney is set to lead its North American business.

Takeaway shareholders approved Maloney's appointment to the board, but rejected a separate motion setting out the terms of his pay.

Maloney was to have received a $745,000 base salary in 2021, with long-term stocks and options grants of up to 1,000% of that amount as part of a long-term incentive plan, a Takeaway shareholder circular said.

Large stock bonuses are rare in the Netherlands and were capped at 100% of base pay across Europe for financial industry executives in the wake of the 2008 financial crisis.

Takeaway's shareholder circular specified that the merger itself was not conditional on shareholders' acceptance of Maloney's new pay deal.

"We will discuss the outcome (of the vote) with Grubhub and Matt," a Takeaway spokesman said. "Unfortunately we can't comment further at this time." A Grubhub spokeswoman also declined to comment.

The companies had said before the vote that the pay package was designed to ensure Maloney remained with the company and that it mirrored his current pay and U.S. norms.

Takeaway, which is loss-making but says sales are booming amid the coronavirus pandemic, is due to report third-quarter earnings next week.

Takaway also said on Wednesday it still expected the deal to close in the first half of 2021, pending approval from Grubhub shareholders and regulators.

(Reporting by Toby Sterling; Editing by Jan Harvey and Jane Merriman)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
GRUBHUB INC. 0.49% 70.03 Delayed Quote.43.98%
JUST EAT TAKEAWAY.COM N.V. 0.57% 88.18 Delayed Quote.7.27%
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More news
Financials
Sales 2020 2 266 M 2 712 M 2 712 M
Net income 2020 -28,5 M -34,1 M -34,1 M
Net cash 2020 259 M 310 M 310 M
P/E ratio 2020 -117x
Yield 2020 -
Capitalization 13 115 M 15 681 M 15 700 M
EV / Sales 2020 5,67x
EV / Sales 2021 4,70x
Nbr of Employees 5 423
Free-Float 79,4%
Chart JUST EAT TAKEAWAY.COM N.V.
Duration : Period :
Just Eat Takeaway.com N.V. Technical Analysis Chart | TKWY | NL0012015705 | MarketScreener
Technical analysis trends JUST EAT TAKEAWAY.COM N.V.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 10
Average target price 117,44 €
Last Close Price 88,18 €
Spread / Highest target 65,6%
Spread / Average Target 33,2%
Spread / Lowest Target -14,9%
EPS Revisions
Managers
NameTitle
Jitse Groen Chief Executive Officer
Adrianus Nühn Chairman-Supervisory Board
Jörg Gerbig Chief Operating Officer
Brent Wissink Chief Financial Officer
Corinne Danièle Goddijn-Vigreux Vice Chairman-Supervisory Board
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