If you were listening closely you might have heard a collective sigh of relief from Prosus's shareholders on Friday as they received confirmation that the company’s R100bn takeover offer had been rejected by Just Eat shareholders.

Remarkably, only just more than 158,000 Just Eat shares were submitted in response to the offer. This suggests the R100bn wasn’t even in the ballpark as far as Just Eat shareholders were concerned. They opted instead for the Takeaway.com share-only deal that allows them to remain shareholders in the combined entity...

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