The deal for Uber Eats, which operates in 41 cities, was signed at 3 AM, and its customers will be shifted to the Zomato app from 7 AM today, the report said Despite arriving in the Indian market in 2017, UberEats has not made enough inroads in the online food delivery segment By selling Uber […]
Tag Archives: Mergers & Acquisitions
No more free lunch: Food-delivery services feeling pressure to finally turn a profit
On-demand food delivery services are being pressured these days to do more than drop off burgers and fries. They must prove they can actually make money—a relatively new requirement for the industry that, for years, has lived large off of investors. DoorDash, Uber Eats, Postmates, and Grubhub rapidly expanded as customers gobbled up the opportunity […]
Could These 3 Companies Still Buy GrubHub?
Grubhub‘s (NYSE:GRUB) stock popped on Jan. 8 after The Wall Street Journal claimed that the food delivery company was mulling a potential sale. However, most of those gains faded the following day after Grubhub denied the rumors. Grubhub stated that it “unequivocally” isn’t running a sale process and that there were “currently no plans to do so.” But this isn’t the […]
Despite Denials, Grubhub Buyout Could Be What Delivers Growth
After rumors surfaced that Grubhub (NYSE:GRUB) hired financial advisors to help it steer a sale of the company, the food delivery service declared it most definitely was not shopping its business, and had no plans to do so. But maybe it ought to rethink that, as a sale looks like the one chance Grubhub has for growth. Driving into the […]
Takeaway seals victory in $8 billion Just Eat battle
Online food ordering company Takeaway.com has won the battle for Britain’s Just Eat with a 6.2 billion pound ($8 billion) share offer that will create one of the world’s largest meal delivery companies. Takeaway said that 80.4% of Just Eat shareholders had agreed to its all-share offer, passing a 50% threshold needed to make the offer unconditional. “I am thrilled,” […]
The great food-delivery fight arrives in the US
The appetite for major consolidation sweeping the global food delivery industry has finally reached the U.S. Now the big question is, which combination would be easier to stomach? The fly in the soup may, as ever, be SoftBank Group Corp. Waves of dealmaking have reduced the number of online food delivery players in markets such […]
Takeaway.com wins fierce Just Eat battle to create online food delivery giant
The fierce battle for U.K. food delivery company Just Eat JE, +1.92% has finally come to an end after Takeaway.com TKWY, +1.62% shareholders approved an all-share £6 billion takeover to create one of the world’s largest meal delivery companies. The Dutch-listed Takeway.com fought off a rival bid from Prosus, the Amsterdam-listed investment vehicle owned by South African tech giant Naspers NPN, +1.47% […]
Grubhub Says It ‘Unequivocally’ Isn’t Running Sale Process
Grubhub Inc. said the food-delivery company isn’t for sale, pushing back against media reports that sent its stock surging. “We felt it was important to clarify that there is unequivocally no process in place to sell the company and there are currently no plans to do so,” a representative for the company said in a statement. “We have always consulted […]
Walmart, other grocers are considering acquiring Grubhub
Executives from Walmart and at least three other grocers have mulled acquiring food-delivery service Grubhub, an industry consultant says. Executives of Walmart, Kroger, Albertsons and Ahold-Delhaize, the owner of Hannaford and Stop & Shop and other supermarkets, are considering how an acquisition of the Chicago company could help them with food delivery and groceries, according […]
Why a Grubhub Merger Could Solve Food Delivery’s Woes
Grubhub stock jumped 17% on Wednesday afternoon after The Wall Street Journal reported the company is looking at strategic options, including a possible sale. The news also sent shares of Uber Technologies (ticker: UBER), parent of Uber Eats and one of Grubhub’s largest rivals, higher. Uber’s shares were up as much as 4.7% in afternoon trading. A Grubhub (GRUB) […]