Reports states ‘Talks’ on Uber taking over GrubHub
According to the various reports, Uber Technologies Inc is in the talks in buying the online food delivery organization Grub-Hub Inc in an all-stock deal.
The pandemic has halted Uber’s core and main business of cabs provision. The reports also suggested that the coronavirus has affected business tremendously. This merger will cover up the losses occurring in the Uber Eats restaurant delivery service with Grub-Hub. This will turn into a fastest growing business in this pandemic. The Grub-Hub shares jumped for almost 36% whilst Uber went up for 6%.
In a statement GrubHub, did not confirm such talks but stated that “consolidation could make sense in our industry.”
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