Europe and US Food Delivery Companies Just Eat and Grubhub Merge

Restaurant delivery service 'Grubhub'

[Asia Economy Reporter Kwon Jae-hee] Just Eat Takeaway, the European version of Uber Eats, is reportedly in talks for a merger and acquisition (M&A) with the U.S. food delivery company Grubhub.

According to CNBC on the 10th (local time), Just Eat Takeaway, headquartered in the Netherlands, plans to enter the U.S. market through the acquisition of Grubhub.

Just Eat Takeaway is a food delivery company formed by the merger of the UK’s Just Eat and the Netherlands’ Takeaway. The merger was approved by the UK competition authorities last April.

Previously, Grubhub had discussions about merging with Uber Eats. A source familiar with the matter stated, "Grubhub decided to shift direction towards merging with a European competitor due to concerns about the long time it would take for regulatory approval of the merger with Uber and the uncertain future outlook."

Although Uber Eats and Grubhub agreed on the merger ratio, concerns remained about antitrust regulatory pressure, and they reportedly did not reach an agreement on how Uber would support Grubhub’s regulatory hurdles.

Neither Grubhub nor Uber Eats has commented on this matter.

If this merger is completed, Grubhub shareholders will receive $75.15 per share, and the enterprise value is expected to reach $7.3 billion (approximately 8.7 trillion KRW).

Matt Maloney, founder and CEO of Grubhub, will join the Just Eat Takeaway board and oversee North American operations after the merger.

The merger between the two companies is expected to be finalized in the first quarter of 2021.

This content was produced with the assistance of AI translation services.