Uber Technologies Makes Takeover Approach to GrubHub--2nd Update
12 Maggio 2020 - 6:37PM
Dow Jones News
By Cara Lombardo
Grubhub Seeks 2.15 Uber Shares for Each Grubhub Share --
Sources
Uber Board Expected to Review Latest GrubHub Counter Proposal --
Sources
Uber Technologies Inc. is seeking to acquire GrubHub Inc. in a
deal that would unite two of the biggest players in meal delivery
at a time when the coronavirus pandemic has sparked a surge in
demand for their services.
Uber, which in addition to its flagship ride business operates a
big meal-delivery unit known as Uber Eats, earlier this year
approached GrubHub with a takeover offer and the companies continue
to discuss a possible combination, according to people familiar
with the matter.
It is far from guaranteed the talks will produce a deal.
Should one come to pass, it would reshape the meal-delivery
business, a key pillar of the new economy whose prominence has been
heightened by the pandemic.
As of earlier Tuesday morning, GrubHub had a market value of
$4.4 billion while Uber's was $54 billion.
Write to Cara Lombardo at cara.lombardo@wsj.com
(END) Dow Jones Newswires
May 12, 2020 12:22 ET (16:22 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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