Food delivery service Just Eat-Takeaway swallows Grubhub | economy

a Long time about the purchase of the food service Grubhub delivery through Uber speculated - now a European rival is coming instead of the train. The concentra

Food delivery service Just Eat-Takeaway swallows Grubhub | economy

a Long time about the purchase of the food service Grubhub delivery through Uber speculated - now a European rival is coming instead of the train. The concentration in the industry is progressing further.

Amsterdam/Chicago (Reuters) - In business lunch deliveries, a transatlantic is difficult to weight. The British-Dutch company Just Eat-Takeaway takes on US rival Grubhub.

So the car service mediator Uber, which has been touted as a likely buyer of Grubhub's not coming, now to the train.

Just Eat-Takeaway, wants to pay the purchase price entirely in its own shares and accepts a premium of 27 percent to the recent closing price of Grubhub. The company agreed to 75,15 dollars per share, as reported after the U.S. market close on Wednesday. So that Grubhub will be assessed upon the Acquisition to total approximately $ 7.3 billion (6.4 billion Euro).

By the merger of the largest food companies, according to the group's supply outside of China. The transaction is expected to be completed in the first quarter of 2021.

For investors, the message was well received. The Grubhub shares have responded in premarket trading on Thursday, with a rise of more than eight percent. The takeover poker, had driven the course last already strong. According to US media reports, the German rival Delivery Hero is said to have shown interest.

according to media reports, Uber has pushed back in February takeover talks with Grubhub. The driving service broker wants to expand his delivery range Uber Eats. In the Corona-crisis, the business of food deliverer is booming. A merger of Grubhub and Uber Eats but would be able to competition concerns fail because both, especially on the US market are active. This Problem is not likely to give it now, as Just Eat-Takeaway is not represented there yet at all.

Uber said after the announcement of the deal, the industry in need of consolidation. "This does not mean that we are not interested in any Deal, at any price, with any Player." According to earlier media reports, Uber is said to have 68 dollars per Grubhub shares offered.

According to the "Financial Times" had tried Uber last year, to take on the Grubhub rival DoorDash, from flashed but. Even after Grubhub swallowed several competitors such as Eat24 or Foodler, the company is in the US market is still less than DoorDash.

Just Eat-Takeaway was itself only in the spring, also through a merger. The Dutch company, Takeaway, took over the British competitor Just Eat.

Link to the press release from Just Eat-Takeaway

Updated Date: 14 June 2020, 10:34

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