Ride-hailing company Uber Technologies is seeking to acquire food-delivery service Grubhub, according to the Wall Street Journal on May 12.
Grubhub proposed a deal in which Grubhub shareholders would receive 2.15 Uber shares for each Grubhub share, the Journal said. That would represent a 45% premium based on the closing prices of both Uber and Grubhub shares on May 11. Uber Eats competes with Grubhub. Grubhub’s market value at the close of trading on May 11 was $4.3 billion while Uber’s was $55 billion.
Reuters jennifersaba Monopoly?
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Uber is reportedly in talks to buy GrubHubUber is in talks to buy GrubHub in an all-stock deal, The Wall Street Journal reports. Uber first approached GrubHub earlier this year with an offer, but the two companies are still in talks, according to the WSJ. This comes a few months after reports emerged that GrubHub was looking to sell Uber, Uber is reportedly in talks to expand the monopoly of exploitation and misclassification. Making profits by not paying even minimum wages to drivers and no healthcare coverage even in the middle of a CoronavirusPandemic . Greed is profitable in America.
Source: YahooNews - 🏆 380. / 59 Read more »
Uber Technologies Makes Takeover Approach to GrubhubA potential deal under discussion would unite two of the biggest players in meal delivery at a time when the coronavirus pandemic has sparked a surge in demand for their services. All before June 1st, Over 50 Americans will file for unemployment, 100 thousands Americans Dead, close to 2 million infected. And fucking summer not even here yet. Makes sense . . . it is a time for rethinking approach and rebuilding strength.
Source: WSJ - 🏆 98. / 63 Read more »
Uber Is Trying to Buy Grubhub to Create a Food Delivery GoliathThe world of restaurant delivery options could soon get even smaller
Source: Eater - 🏆 368. / 59 Read more »
Uber reportedly rejects all-stock offer to buy GrubHubUber Technologies Inc. and GrubHub Inc. cannot agree on a price that the ride-hailing company would pay to acquire the food delivery business, according to a CNBC report late Tuesday. GrubHub shares fell 2.9% in the extended session and Uber shares dropped 0.9%. CNBC said that Uber had rejected an all-stock offer. Earlier Tuesday, The Wall Street Journal reported that GrubHub proposed a deal in which its investors would have received 2.15 Uber shares for every share of GrubHub, valuing the company at roughly $6.25 billion. The Journal also reported that Uber's board was expected to review the proposal in the "coming days." aaaaaaaaannnnddd tomorrow is a short. Bad headline. Why would they reject their own offer?
Source: MarketWatch - 🏆 3. / 97 Read more »
Uber Reportedly In Talks To Acquire GrubhubI’m a San Francisco-based reporter covering breaking news at Forbes. I’ve previously reported for USA Today, Business Insider, The San Francisco Business Times and San Jose Inside. I studied journalism at Syracuse University’s S.I. Newhouse School of Public Communications and was an editor at The Daily Orange, the university’s independent student newspaper. Follow me on Twitter rachsandl or shoot me an email rsandlerforbes.com. rachsandl When you’re working on something important and things aren’t working out - take a break - come back in a few minutes. When your anxiety lowers you’ll figure it out faster. rachsandl The stint of UberEats in India was rather short-lived. Hope Uber has thought through this move and is not acting out of sheer panic.
Source: Forbes - 🏆 394. / 53 Read more »