Grubhub Takeaway.com Merger

Grubhub plans to merge with Takeaway.com. Originally Grubhub was going to merge with Uber. Uber valued each Grubhub share at $70 a share. The deal fell through because Uber and Grubhub felt the deal would get killed with anti trust laws.

“Consumers should be able to look forward to a future in which online food delivery is more efficient, more innovative, and less expensive,” they said in the letter. “A merger of two of the three biggest rivals in an already concentrated market risks [deprives] consumers of that outcome by potentially eliminating competition between the existing market participants.”

After the deal was killed, Uber stock dropped 6%. Just eat takeaway is valuing Grubhub stock at $75.15 a share, making Grubhub worth 7.3 billion dollars . The deal is expected to close first quarter of 2021. Just Eat Takeaway closing price. Still, Just Eat Takeaway shares fell more than 10% on Wednesday’s news, lowering the offer to about $65.17 per Grubhub share. Just Eat Takeaway offered 0.67 shares for each Grubhub share compared to Uber’s offers of 1.925 shares for each Grubhub share. The merger with Takeaway.com is unlikely to draw as much concern among antitrust officials because it brings Grubhub under the wing of a business that operates outside of the U.S.

This will be Takeaway.com’s second merger this year. In January, the Dutch company bought its British peer Just Eat in a $7.8 billion deal. The merged company now has leading positions in three of the world's four largest profit pools for food delivery: the U.K., Germany and the Netherlands, Just Eat Takeaway.com said in a statement.

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