Grubhub Responds to Multiple Merger Lawsuits

A year after entering a merger plan with Just Eat Takewaway.com, Grubhub is defending itself against a handful of shareholder lawsuits. In all, 14 lawsuits have hit the courts alleging various issues in the merger agreement. One suit alleges the company violated key Securities Exchange Commission (SEC) guidelines, another alleges the sale process was flawed …

GRUBHUB’S NEW OWNER OFFERS GLIMPSE OF POTENTIAL U.S. STRATEGY

Just Eat Takeaway.com on Wednesday laid out its plan to gain market share by expanding its delivery network, investing in customer acquisition and lowering fees across its 23 global markets—which will soon include the U.S. The Amsterdam-based delivery company is in the process of acquiring Grubhub in a $7.3 billion transaction set to be completed in the first half of …

Just Eat Takeaway sales soar 54% in 2020 as pandemic shifts eating habits

Food delivery group Just Eat Takeaway recorded ballooning sales – and losses – during the Covid pandemic as families shifted to dining at home. The group, formed by the £6bn merger of London-listed Just Eat and Dutch group Takeaway.com last year, said sales soared 54% in 2020 but operating losses mounted to €107m (£92m) from €78m a …

Just Eat Takeaway.com sees growth in 2021 even as pandemic eases

AMSTERDAM (Reuters) – Just Eat Takeaway.com expects further growth in 2021 after a surge in business during the COVID-19 pandemic helped it meet expectations for full-year 2020 earnings, the online food-ordering and delivery company said on Wednesday. It expects to win market share in Britain in 2021, and achieve revenue growth, despite plans by rival …

Grubhub: Justeats Bet On The Wrong Horse

Summary Grubhub stock will be moving towards $75.15 in H121 (from the current price of $74) as the merger with Justeats gets regulatory approval. The foodtech market in general is a “winner takes all market” with companies striving to gain >50% market share. Grubhub has been the biggest loser in the food-delivery space as Doordash …

Dutch firm’s shareholders vote yes to Grubhub buy, no to CEO’s pay

Just Eat Takeaway.com, the online food-ordering company, on Wednesday said its shareholders approved its proposed $6.9 billion purchase of rival Grubhub, but rejected a pay package for the company’s chief executive, Matthew Maloney. Takeaway agreed in June to buy Grubhub in a deal to create a transatlantic group which would be the biggest food delivery business outside …

Grubhub Acquisition by Just Eat Takeaway May Need 6 Months More to Complete

Grubhub (NYSE:GRUB) announced today that although it and Just Eat Takeaway.com (LSE:JET) have received all the necessary regulatory approvals to complete their $7.3 billion all-stock merger, the two may need more time to complete the deal. The third-part meal delivery industry is undergoing a wave of consolidation. Uber Technologies (NYSE:UBER) is acquiring Postmates for $2.6 billion (and had sought to acquire Grubhub before it accepted …

Just Eat to stop using gig economy workers

The boss of one of the world’s biggest food delivery platforms has told the BBC he intends to end gig working at his company across Europe. Jitse Groen, who runs Just Eat Takeaway, says he would rather run his company with staff who get benefits and more workplace protection. It is the model he has …

Just Eat Takeaway shares set to soar ahead of H1 earnings

Just Eat Takeaway.com has seen its share price outperformer the broader market, driven by its inorganic growth strategy and an uptick in consumers ordering take out amid government-imposed lockdowns due to Covid-19. The online food delivery company only recently rebranded following the merger of Just Eat and Netherlands-based Takeaway.com earlier this year, with the enlarged group announcing …

Grubhub Reports Shaky Growth Going into JET Transaction

Grubhub (NYSE: GRUB) reported strong second-quarter results and gave a few updates on the Just Eat Takeaway.com (JET) transaction. The company released the results without an earnings call as the company has chosen not to hold calls until the close of the JET acquisition. Revenue and user growth continued on the solid trajectory seen in …