Just Eat acquires Grub hub for $7.3billion
Just Eat has agreed to acquire Grubhub in an all-stock transaction worth about $7.3 billion.
This will create the world's largest online food-delivery company outside of China in terms of revenue.
The deal values Grubhub's shares at $75.15 apiece, a 27% premium to their Wednesday close. The merger will have headquarters in both Amsterdam and Chicago.
This acquisition will obviously test whether the huge increase in the use of food-delivery apps during the pandemic will continue once the social distancing rules have been lifted.
There were strong rumours last month that Uber was in the market to acquire Grubhub, leading to antitrust concerns because of the two companies' dominance of the US market.
The regulators now have a slightly different deal to assess.