Is It Time to Take Profits in Grubhub as It Merges with Just Eat?
Grubhub's (NYSE: GRUB) stock recently popped after the American food delivery company agreed to merge with its European peer Just Eat Takeaway (OTC: TKAY.Y), which itself was formed by a recent merger between the U.K.'s Just Eat and Netherlands-based Takeaway.
The all-stock deal, which values Grubhub at $7.3 billion, will exchange each Grubhub share for 0.671 shares of Just Eat, which implied a value of $75.15 per Grubhub share when the deal was announced.
Image source: Grubhub,
Source Fool.com