Just Eat Board confirmed a possible business combination with Takeaway.com. Credit: Just Eat Holding Limited

Online delivery platform Just Eat has confirmed that the company is in talks with Dutch company Takeaway.com for a possible business takeover.

The merger is expected to materialise with Takeaway.com making an offer for Just Eat, which will be treated as an offeree company.

In a statement issued by Just Eat in response to media speculation, the Dutch company will now have until 24 August this year to announce either it intends to make an offer or not.

Takeaway.com management board said: “Any transaction may be structured as an offer for Just Eat by Takeaway.com but there can be no certainty that any offer will be made, nor as to the terms of any such offer should one be made.”

The possible combination, if finalised, will create an online food delivery platform with 360 million orders worth €7.3bn in 2018.

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As per the proposed terms of the possible combination, Just Eat shareholders would receive 0.09744 Takeaway.com shares in exchange for each Just Eat share.

Also, Just Eat shareholders would own approximately 52.2% and Takeaway.com shareholders nearly 47.8% of the share capital of the combined group.

Following the completion of the potential merger, Takeaway.com expects the combined group to be incorporated, headquartered and domiciled in Amsterdam, the Netherlands.

The potential transaction would be subject to approval by Takeaway.com shareholders and Just Eat shareholders.

In addition, it will also be dependent on the completion of Takeaway.com’s applicable statutory works council consultation process in the Netherlands and other customary conditions.

Goldman Sachs International, UBS and Oakley Advisory are acting as the lead financial advisers to Just East for the transaction.

Headquartered in London, Just Eat offers digital ordering service for more than 26 million customers and over 100,000 restaurant partners.

The company has operations across the UK, Australia and New Zealand, Canada, Denmark, France, Ireland, Italy, Mexico, Norway, Spain, Switzerland and Brazil.

Last week, Just Eat announced several redundancies in the UK and Ireland as part of a reorganisation strategy.