Uber Makes Takeover Approach To Grubhub (wsj.com) 18
phalse phace shares a report from The Wall Street Journal: Uber is seeking to acquire Grubhub in an all-stock deal that would unite two of the biggest players in meal delivery at a time when the coronavirus pandemic has sparked a surge in demand for their services. Uber, which in addition to its flagship ride business operates a big meal-delivery unit known as Uber Eats, earlier this year approached Grubhub with a takeover offer and the companies continue to discuss a possible combination, according to people familiar with the matter. Grubhub recently proposed a deal in which its shareholders would receive 2.15 Uber shares for each Grubhub share, some of the people said.
Tweedle Dum meets Tweedle Dumber (Score:3)
Between the two of them they should be able to burn through a phenomenal amount of venture capital.
Re: (Score:2)
Between the two of them they should be able to burn through a phenomenal amount of venture capital.
They're both publicly traded companies..
Uber Eats? (Score:2)
Wouldn't the DOJ have to aprove such a merger. Given Uber Eats, I think that could be problematic.
Re: (Score:2)
There are many other competitors and few barriers to entry.
I doubt if the DOJ will hold this up.
New name? (Score:4, Funny)
1. Uber is seeking to acquire Grubhub.
2. Uber already has a big meal-delivery unit known as Uber Eats.
3. Gruber Eats
4. If they can get John Gruber to sign as a mascot, Profits!
Re: (Score:2)
And if they can't get him, they can hire Ed Gruberman!
Re: (Score:1)
The same Uber that just laid of 3500 employees.... (Score:3)
Re: (Score:2)
As noted above, with a bit of luck they'll burn through a few more billions of venture capitalist's money, then die.
Re: (Score:2)
As someone above noted, they are publicly traded...no VC money involved.
Re: (Score:2)
apparently have the money to buy another company.
They don't. They have stock to buy another company.
Re: (Score:2)
Yep, they couldn't afford all those employees, but apparently have the money to buy another company.
Business 101: You do what is profitable, not what you can afford to lose.
M&A (Score:1)
Because Mergers and Acquisitions, Wall Street profits, executive bonuses and monopolies are more important than what's good for the country.
Consolidation (Score:2)