(Reuters) – Uber Technologies Inc is in negotiations to buy online food delivery company Grubhub Inc in an all-stock deal, according to people familiar with the matter.
FILE PHOTO: The Uber logo is displayed on a mobile phone in this picture illustration taken November 25, 2019. REUTERS/Hannah McKay/Illustration
A merger could give Uber Eats’ money-losing restaurant delivery service a leg up on market leader DoorDash at a time when the coronavirus pandemic has upended Uber’s core business of shuttling people from place to place.
Uber and Grubhub are still haggling over the deal’s stock exchange ratio, and there is no certainty that they will reach an agreement, the sources said.
The potential acquisition suggests that the Silicon Valley disruptor is doubling down on its fastest-growing service in a scramble to adapt to what is likely to be a long business interruption.
“This would be an aggressive move by Uber to take out a major competitor on the Uber Eats front and further…
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