Prosus Extends Just Eat Takeaway Offer Deadline as Naspers Reports Strong Results
Prosus has extended the deadline for Just Eat Takeaway (JET) shareholders to consider its €4.1 billion (R85 billion) all-cash offer to October 1. Meanwhile, Prosus' parent company, Naspers, has reported robust financial results.
Prosus, owned 55% by Naspers, saw revenue reach $7.2 billion (R128 billion) and core headline earnings hit $3.1 billion (R55.5 billion) in the year ending March 31. The company is working closely with the European Commission, anticipating a final decision on its JET acquisition by August 11.
The deal requires at least 80% shareholder acceptance. If less than 20% of JET shareholders hold out, Prosus may liquidate JET's assets and shut down operations. Prosus views the acquisition as a stepping stone to create an 'AI-first European tech champion'.
In other news, Revolut has hired former Uber executive Amine Berrada to lead its expansion into Morocco. The company aims to secure full licenses in both Morocco and South Africa to broaden its services in Africa.
OpenAI, the company behind ChatGPT, has introduced a new feature called 'Study Mode'. This tool helps students learn rather than simply copy answers.
Prosus' extended deadline gives JET shareholders more time to decide on the €4.1 billion offer. The company's strong financial performance and plans for an 'AI-first European tech champion' may influence this decision. Meanwhile, Revolut's expansion into Africa and OpenAI's new learning feature in ChatGPT indicate progress in the tech sector.
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