Grubhub Looking to Partner With Just Eat Takeaway to Avoid Uber Takeover
News from multiple sources this morning indicates that Uber Technologies (NYSE: UBER) has likely dropped its attempt to acquire food delivery service Grubhub (NYSE: GRUB) -- or at least that Grubhub has turned elsewhere amid strong regulatory resistance to the merger. While details are still uncertain, Just Eat Takeaway.com (LSE: JET) says it's now working out a merger with Grubhub.
A group of U.S. senators expressed strong opposition to the merger of Grubhub and Uber, noting the deal would put around 90% of the American food delivery market under a single company's control. Grubhub, apparently deeming a Department of Justice investigation a real possibility, initially asked Uber for a "breakup fee" agreement in case the senatorial opposition aborted the purchase.
Image source: Just Eat Takeaway.com.
Source Fool.com
