Uber Said to Offer $6 Billion for Meal Delivery Rival Grubhub

added 18.05.2020 13:28

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45,260 crores) in stock in its takeover bid for meal delivery group Grubhub, a source familiar with the talks said Wednesday.

The two firms were not in agreement on a deal that would unite two of the three largest US players in the food delivery segment, according to the source who declined to be identified.

Grubhub shares, which rose sharply on the reports of a tie-up earlier this week, slipped 3.7 percent on Wednesday.

Uber has been seeing strong growth in its food delivery operation Uber Eats, partly offsetting the sharp decline in ride-hailing during the global pandemic.

According to the research firm Second Measure, Uber Eats accounted for 20 percent of US meal delivery sales in March and Grubhub had 28 percent.