Takeaway CEO says he does not plan to improve bid for Just Eat

FILE PHOTO: Signage for Just Eat on the window of a restaurant in London, Britain, August 5, 2019. REUTERS/Toby Melville./File Photo

BARCELONA (Reuters) - NV CEO Jitse Groen said on Wednesday he does not plan to improve his company’s 4.3 billion pound ($5.50 billion) all-share bid to buy British rival Just Eat PLC, despite a higher cash offer from rival Prosus NV.

Asked on the sidelines of the Morgan Stanley European Technology, Media & Telecom conference in Barcelona whether he planned to raise or sweeten the offer, he said “no”.

When asked how much support his offer had from shareholders he answered “a lot, actually, because they are the same shareholders, there’s a lot of overlap. People know our track record.”

Reporting by Paul Sandle; Writing by Toby Sterling; Editing by Louise Heavens