Investors view Grubhub’s announcement of plans to merge with Just Eat Takeaway as a lost opportunity for Uber. But WSJheard explains why the news may have just bought Uber some valuable time to wait for a sure thing. WSJWhatsNow
Uber shares closed down more than 10% on Thursday, suggesting investors view Grubhub’s agreement to be acquired by Netherlands-based Just Eat Takeaway as a lost opportunity for the ride-hailing giant. In the end, Uber could be all the better for it.
In a statement following Grubhub’s merger announcement, Uber said that while the food industry is in need of consolidation, the company isn’t interested “in doing any deal, at any price, with any player.” A reading between the lines indicates that Uber may have soured on Grubhub...
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