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Report: Uber Approaches Grubhub With Takeover Offer

Report: Uber Approaches Grubhub With Takeover Offer


UNITED STATES
Wednesday, May 13th, 2020

Delivery is top of mind for many as shoppers seek out new ways to access food amidst the pandemic. Companies long known for their prowess in the foodservice delivery sector are now looking to strengthen their operations. Uber is one such company, reportedly considering the acquisition of its well-known rival Grubhub.

According to people familiar with the matter, the two food delivery services are in talks about a deal and could potentially reach an agreement as soon as this month. Bloomberg reported that although the deliberations are still ongoing, the talks could still fall through.

In response to the news, Grubhub released a statement saying the following: “Consolidation could make sense in our industry, and like any responsible company, we are always looking at value-enhancing opportunities. That said, we remain confident in our current strategy and our recent initiatives to support restaurants in this challenging environment.”

Reports are surfacing suggesting Uber is looking into acquiring its rival Grubhub to keep up with rising demand for food delivery services

Uber also issued a statement, remarking that it “wouldn’t respond to speculative M&A premiums” and that it is “constantly looking at ways to provide more value to our customers, across all of the businesses we operate.”

As Uber continues to creep into the grocery sector with new programs like Uber Direct, as we reported on our sister site AndNowUKnow, will this potential acquisition give it a leg up over competitors seeking to gain the same market share?

As we all wait with bated breath to find out whether the deal will go through, Deli Market News will be here bringing you the most up-to-date reports.

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