Europe's Just Eat Takeaway in advanced talks to buy U.S. delivery firm Grubhub
AMSTERDAM/NEW YORK (Reuters) - European food ordering firm Just Eat Takeaway.com NV said on Wednesday it was in advanced talks to buy Grubhub Inc in an all-stock deal that, if completed, would create the world’s largest food delivery company by revenue.
FILE PHOTO: Signage for Just Eat is seen on the window of a restaurant in London, Britain, August 5, 2019. REUTERS/Toby Melville.
The merger would open up a tantalizing new market to Just Eat Takeaway, which has a foothold across Europe, Canada and Latin America but none in America.
For Grubhub, the deal would relieve antitrust concerns raised by its talks with the Uber Eats division of ride-hailing firm Uber Technologies Inc.
Chicago-based Grubhub, which has a market cap of about $4.3 billion, was approached by Uber in May for an all-stock deal, but Uber is now backing out of the deal.