Shares of Just Eat soared as much as 54.7% on Monday morning, notching a new 52-week high. The stock price was last seen trading 54.4% higher on the news.
Prosus shares fell 6.6%, tumbling toward the bottom of the pan-European Stoxx 600 index, while Delivery Hero rose 4.8%.
"We are very excited for Just Eat Takeaway.com to join the Prosus group and the opportunity to create a European tech champion," Fabricio Bloisi, CEO of Prosus and Naspers group, said in a statement.
"We believe that combining Prosus' strong technical and investment capabilities with Just Eat Takeaway.com's leading brand position in key European markets will create significant value for our customers, drivers, partners, and shareholders," Bloisi said.