European Just Eat Takeaway buys Grubhub for 7.3 billion dellarovere Dragun | 11.06.2020
The deal will create a company built around four of the world’s largest profit centers in the delivery of food from restaurants. The US, UK, Netherlands and Germany. The agreement will help Grubhub
to avoid antitrust problems, which have impeded its negotiations with Uber Eats.
In may, Uber turned to Grubhub in Chicago to make a deal to unite the companies, but it fell apart this week. In its statement, Uber said that the industry of food delivery needs
consolidation, but he is not interested in achieving the goal at any cost. Media reports about the intentions of Uber motivated Just Eat Takeaway to make an offer. At the moment the amount is
USD 7.3 billion. Both companies have similar models of delivery of food from restaurants. The deal will provide Grubhub financial stability and flexibility. Grubhub shares rose nearly 6% on the secondary market
and shares of Just Eat Takeaway closed higher by 13% after the sides said that negotiating. Experts say that consolidation is long overdue in the United States. Demand is increasing because many people
stay home with the coronavirus. Just Eat Takeaway said it plans to close the deal in the first quarter of 2021, waiting for the approval of shareholders and regulators. The combined company will be
having the headquarters in Amsterdam. Revenue Just Eat Takeaway in 2019 amounted to 1.5 billion euros (1.7 billion U.S. dollars), while at Grubhub, it reached 1.2 billion euros. Company
reported that growth in their core markets in April and may increased by 41% since the outbreak of the coronavirus led to a sharp increase in the use of online services. Takeaway established in 2000, in
2018 it bought German rival Delivery Hero.