Grubhub co-founder said to have considered buying back the company from Just Eat Takeaway

Grubhub co-founder Matt Maloney was said to work with private equity firm General Atlantic to consider buying the food delivery outfit back after he sold it to Just Eat Takeaway (OTC:JTKWY) for $7.3 billion last year.

Maloney decided against purchasing the company earlier this year, according to a Sunday Times report, citing unidentified sources. The 60% drop in Just Eat Takeaway’s shares this year could bring him back, the paper said.

The Grubhub bid news comes after the Sunday Times reported a week ago that Just Eat Takeaway (OTC:JTKWY) may need to write down £5 billion ($6.3 billion) from the sale of Grubhub.

Grubhub may fetch as low as £1 billion in a possible sale after failing to receive significant interest from strategic buyers, according to the Times report, which cited multiple unidentified sources.

Just Eat Takeaway (OTC:JTKWY) announced in April that it’s actively working with advisers to find a strategic partner for a partial or full sale of Grubhub.

Just Eat Takeaway (OTC:JTKWY) has been under pressure since last fall to sell or spin off Grubhub as investor Cat Rock Capital had been urging the company to explore options for the Grubhub business.

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