10th Jun 2020 16:01
(Alliance News) - Food delivery company Just Eat Takeaway.com NV on Wednesday confirmed that it is advanced discussions regarding an all-share combination with US peer Grubhub Inc.
"The management board of Just Eat Takeaway.com NV notes the press speculation in relation to a possible combination of the businesses of Just Eat Takeaway.com and Grubhub Inc. The management board of Just Eat Takeaway.com confirms that it is in advanced discussions with Grubhub regarding an all-share combination of Just Eat Takeaway.com with Grubhub," the Amsterdam-based online food ordering and home delivery said in a short statement.
Shares in Just Eat Takeaway.com were down 12% at 7,680.00 pence each in London on Wednesday afternoon, giving it a market capitalisation of GBP4.65 billion. The company's shares in Amsterdam were down 14% at EUR85.24, valuing the firm at around EUR5.26 billion.
New York-listed Grubhub was down 0.9% at USD57.42, giving a market capitalisation of about USD5.28 billion.
Earlier on Wednesday, CNBC reported US rival Uber Technologies, which operates Uber Eats, was likely to pull out of its merger talks with Grubhub over antitrust concerns.
The Wall Street Journal newspaper, citing people familiar with the matter, on Wednesday reported that Grubhub was working on an all-share deal with Just Eat Takeaway.com.
https://www.wsj.com/articles/just-eat-takeaway-com-nears-all-stock-deal-for-grubhub-11591797653
By Tapan Panchal; [email protected]
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