Grubhub and Uber ‘very close’, still talking about a deal – CNBC’s Faber

Uber (NYSE:UBER) is still at about 1.9/share for each Grubhub (NYSE:GRUB) share, and Grubhub has come down a bit in their ask, “below 2” CNBC’s Faber said of the “very incremental,” update of the potential deal.

The sides are getting “quite close” David Faber said, citing people familiar with the situation. Doesn’t mean the deal will get done, but that the gulf between the two companies has narrowed.

The deal remains all stock. Jim Cramer said the GRUB CEO is very passionate and “pro shareholder” and wants to make sure that he doesn’t sell the co. below the average price where many people bought into the company, at “$70, $80, $90.”

Note that earlier this week, Grubhub rebuffed the deal. The deal is also attracting antitrust concerns.

Jim Cramer discusses the M&A landscape: He says the deal would create a competitor to Doordash you can pit against one another as a restauranteur. He then adds on the flipside that the combination could be like AT&T (NYSE:T), Sprint, Verizon (NYSE:VZ) and T-Mobile (NASDAQ:TMUS) getting together and your “bill goes up.”


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