- Amsterdam-based food delivery company, Just Eat Takeaway.com NV TKAYF published the prospectus for its proposed $7 billion acquisition of U.S. peer GrubHub Inc GRUB, Reuters reports.
- Takeaway shareholders had approved the deal in October.
- GrubHub shareholders will meet to vote on the offer on June 10.
- GrubHub had previously declined Uber Technologies Inc’s UBER acquisition offer for $65 - $70 per share in favor of Just Eat Takeaway.com’s all-stock transaction valued at $75.15 per share.
- Just Eat Takeaway.com’s orders surged by 79% in Q1 2021, almost twice its growth estimates from the pandemic-induced boom in-home eating in Britain and other markets.
- Price action: GRUB shares traded lower by 8.48% at $58.8 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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