Just Eat Takeaway Publishes Prospectus For Proposed $7B GrubHub Acquisition: Reuters
- Amsterdam-based food delivery company, Just Eat Takeaway.com NV (OTC: TKAYF) published the prospectus for its proposed $7 billion acquisition of U.S. peer GrubHub Inc (NYSE: 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 (NYSE: 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.
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