Just Eat Takeaway Acquires Grubhub for $7.3B
In a lightning-fast finish to the drawn-out saga of Grubhub's (NYSE: GRUB) negotiations with Uber Technologies (NYSE: UBER) over a merger, the food delivery service turned down Uber's advances and accepted an offer from Just Eat Takeaway.com (LSE: JET) in the space of less than 24 hours. Investors seem pleased by the news, with Grubhub's stock already up nearly 5% in Thursday morning trading.
The move is Just Eat's second major acquisition for the year, which kicked off with its acquisition of Takeaway.com for $7.8 billion in January. While Just Eat had a strong food delivery presence in Europe, Australia, Canada, and Central and South America, combining with Grubhub gives the company its first foothold in the United States.
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Source Fool.com
