Shares of Just Eat Takeaway.com surged more than 50% on Monday morning after tech investor Prosus announced its acquisition of the food delivery company in an all-cash deal worth €4.1 billion. The agreement values Just Eat Takeaway shares at €20.30 each, above Monday’s early trading price of €19.15 and significantly higher than Friday’s closing price of €12.43.

The acquisition follows a challenging period for Just Eat Takeaway, which delisted from the London Stock Exchange in December as part of a cost-cutting strategy. Despite this, the company’s shares remain publicly traded in Amsterdam, where it is headquartered. Formed in 2020 through a merger between UK-based Just Eat and Dutch competitor Takeaway.com, the company experienced a surge in food delivery demand during the pandemic. However, demand declined post-pandemic, leading to a drop in its share price from its 2020 peak.

Prosus, an investment arm of South Africa’s Naspers group, has long shown interest in Just Eat Takeaway, having previously competed with Takeaway.com to acquire the UK firm before the pandemic. The acquisition is expected to strengthen Prosus’ food delivery portfolio in Europe, complementing its existing investments in companies such as Brazil’s iFood, Delivery Hero, and India’s Swiggy. Prosus also holds a minority 4% stake in China’s Meituan.

Fabricio Bloisi, Prosus’ former CEO who now leads the company, emphasized the strategic benefits of the deal. “Prosus already has an extensive food delivery portfolio outside of Europe and a proven track record of profitable growth through investment in customer and driver experiences, restaurant partnerships, and logistics powered by innovation and AI,” Bloisi said. “We believe combining our capabilities with Just Eat Takeaway.com’s strong brand presence in key European markets will deliver significant value to customers, drivers, partners, and shareholders.”

Operating in 17 markets, including the UK, Germany, and the Netherlands, Just Eat Takeaway faces stiff competition from rivals such as Uber Eats and Deliveroo. On Monday, the company reported a net loss of €1.65 billion for 2024, including €1.16 billion tied to its former US asset, Grubhub, which it sold last November for $650 million—significantly less than the $7.3 billion it originally paid in 2021.

Following the acquisition, Just Eat Takeaway’s founder and CEO, Jitse Groen, will continue to lead the company, overseeing its integration into the Prosus portfolio.

Apple has announced plans to invest $500 billion (€477.50 billion) in the United States over the next four years, aiming to bolster domestic production and expand its workforce as trade tariffs loom. The investment includes the creation of 20,000 new jobs and the construction of a new manufacturing plant in Houston, Texas, by 2026.

The tech giant’s latest move is part of its broader strategy to enhance U.S. operations and reduce reliance on overseas manufacturing. Apple will also establish a supplier academy in Michigan and increase investments in states such as Nevada, California, and Arizona.

“We are bullish on the future of American innovation, and we’re proud to build on our long-standing U.S. investments,” said Apple CEO Tim Cook. “We’ll keep working with people and companies across this country to help write an extraordinary new chapter in the history of American innovation.”

As part of its investment strategy, Apple will double the budget of its U.S. Advanced Manufacturing Fund from $5 billion to $10 billion. The fund has previously supported projects such as producing iPhone glass in Kentucky.

The announcement follows Cook’s recent meeting with U.S. President Donald Trump at the White House and comes amid rising trade tensions between the U.S. and China. Trump recently introduced a 10% levy on imported Chinese goods, which could impact Apple, as many of its products are manufactured in China. During Trump’s first term, Apple secured tariff waivers to mitigate these costs, though it remains unclear if similar exemptions will be granted this time.

In addition, Apple faces potential challenges from a proposed 25% tariff on semiconductor imports. To address this, the company is ramping up chip production at a Taiwan Semiconductor Manufacturing Co. (TSMC) factory in Arizona, which produces components for the iPhone.

The new 250,000-square-foot Houston facility will focus on assembling servers that power Apple Intelligence, the company’s suite of AI-driven features. Meanwhile, the supplier academy in Michigan will offer training programs for U.S. manufacturers, collaborating with engineers and local universities to strengthen the domestic supply chain.

Apple’s latest investment echoes a similar pledge made in 2018 when the company committed to injecting $350 billion into the U.S. economy over five years. With its latest initiative, Apple aims to drive innovation, support local economies, and navigate the evolving landscape of global trade.

The world’s largest electric vehicle manufacturer is recalling more than 375,000 vehicles due to a power steering issue that could impact driver control, according to the US National Highway Traffic Safety Administration (NHTSA).

The recall affects certain 2023 Model 3 and Model Y vehicles, with the NHTSA reporting that the printed circuit board responsible for electronic power steering assist may become overstressed. This could result in a loss of power steering assistance when the vehicle stops and then accelerates again.

A loss of power steering assistance requires drivers to exert greater effort to steer the vehicle, particularly at low speeds, increasing the risk of accidents.

The EV manufacturer has not disclosed the number of incidents linked to the issue but stated that it is working to address the problem promptly. Owners of affected vehicles will be notified and offered free repairs, including replacement of the faulty circuit board if necessary.

The NHTSA advises vehicle owners to monitor their dashboard warning lights and seek service immediately if they notice any changes in steering performance. The agency is continuing to monitor the situation to ensure compliance and safety.

This recall comes as the electric vehicle industry faces heightened scrutiny over software and hardware reliability. Despite the setback, industry analysts believe the company’s proactive recall could help maintain customer trust and highlight its commitment to safety and product quality.