Grubhub spurns Uber and will merge with Europes Just Eat Takeaway

After nearly a month of back-and-forth, Grubhub has walked away from a potential acquisition from Uber and will instead merge with European company Just Eat Takeaway. The all-stock deal is expected to close in the first quarter of 2021.

Uber was looking to buy Grubhub because the combined food ordering and delivery service would have rivaled, or maybe even surpassed, market leader DoorDash. An acquisition of Grubhub — which owns Eat24, Seamless, and MenuPages — would have been so significant that it was already drawing regulatory heat. Shortly after talks between the two companies were made public in May, a handful of US Senators alerted the country’s top antitrust officials asking for the potential deal to be scrutinized.

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