One of the most brutal takeover battles of the last 12 months ended on Friday as Takeaway.com finally won the right to buy rival Just Eat in a £5.9 billion deal.

More than 80% of Just Eat's shareholders have accepted the bid from its Dutch peer, making it a done deal.

The remaining shareholders now have until January 31 before Takeaway can force a compulsory purchase.

The deal is expected to finalise in the first quarter of this year.
Takeaway initially agreed a takeover with the UK delivery company at the beginning of July.

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It proposed to pay for the purchase with shares in Takeaway.

Prosus, an Amsterdam-listed arm of South Africa's Naspers, tried to gain control, putting cash on the table in October to try to lure Just Eat shareholders to plump for its rival bid.

The two went toe-to-toe, slinging mud at each others' offers and trying to win Just Eat approval.

With the backing of the Just Eat board, however, Takeaway always looked to have the upper hand.

"I am thrilled that our offer for Just Eat has now formally reached an acceptance level of 80.4%. I wish to thank everybody involved, but especially the Just Eat staff for their patience, in what must have been an uncertain time," Takeaway chief executive Jitse Groen said on Friday.

He added: "Just Eat-Takeaway.com is a dream combination and I am very much looking forward to leading the company for many years to come."

Vegan confectionery maker LoveRaw has secured a £2 million cash injection from Beyond Meat backer Blue Horizon Ventures to fuel its expansion plans.

The business has secured the major investment just two years after turning down a funding offer on Dragons' Den.

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In 2018, founder and managing director Rimi Thapar rejected a £50,000 investment offer from Deborah Meaden to support the snack maker, which specialises in vegan chocolate nut butter cups.

She said that since ejecting the offer on the TV show, she has worked with husband and business partner Manav Thapar to grow the brand to retailers across the UK.

The brand, which is now sold in major UK supermarkets such as Waitrose, has seen sales grow 98% over the past year.

It said the funding from Blue Horizon will help LoveRaw to "disrupt" the UK confectionery market as demand for vegan products continues to boom.

Ms Thapar said: "We are so glad that we waited for the right investor and didn't buckle when the Dragons' Den offer came in when we so needed it.

"Having Blue Horizon on board is game-changing. Regardless of the investment, our values align with theirs - we are all on a mission to make plant-based eating the norm and to also turn LoveRaw into an international brand."

Historic retailer Fortnum & Mason saw Christmas sales surge as it was buoyed by its recognisable hampers and its growing online business.

The London-based company, which has a close relationship with the Royal Household, saw like-for-like sales rise by 13% over the five weeks to December 29.

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It said sales in its retail stores, including its flagship Piccadilly store, increased by 13% as it also recorded a 22% increase in online sales.

Fortnum's hailed strong sales of its hampers, which were 24% up on 2018, while it also saw a 15% rise in sales through its restaurant business.

Ewan Venters, chief executive officer of the retailer, said: "I am very pleased that our excellent Christmas trading results support that dedication and we shall keep striving to preserve and evolve the unique experience of shopping with Fortnum & Mason."