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Grubhub Valued at $7.3B in All-Stock Merger
Chicago-based Grubhub and Amsterdam-based Just Eat Takeaway.com will merge in an all-stock deal that values Grubhub at about $7.3 billion, the two companies said Wednesday. The combined company will be headquartered in Amsterdam, while maintaining a significant presence in Chicago.
Negotiations for Uber Technologies to acquire Grubhub reportedly foundered on antitrust concerns. For Just Eat Takeaway, the Grubhub deal will represent its entry into the U.S. market, and the two companies said the combination would create the world’s largest online food delivery company outside of China.
From the standpoint of Just Eat Takeaway, Grubhub has been among the few consistently profitable players in the food delivery space. At Grubhub, CEO Matt Maloney said, “Supported by Just Eat Takeaway.com, we intend to accelerate our mission to be the fastest, best and most rewarding way to order food from your favorite local restaurants in North America and around the world.”
Pictured: Grubhub headquarters at 111 Washington St. in Chicago.
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- ◦Sale/Acquisition
