Grubhub (NYSE: GRUB) announced today that although it and Just Eat Takeaway.com (LSE: JET) have received all the necessary regulatory approvals to complete their $7.3 billion all-stock merger, the two may need more time to complete the deal. Grubhub says everything is on track and it still expects to complete the deal in the first half of 2021, but the two parties are extending the deadline to complete the transaction out to Dec. 31, 2021, from the original date of June 10, 2021. Uber Technologies (NYSE: UBER) is acquiring Postmates for $2.6 billion (and had sought to acquire Grubhub before it accepted the Just Eat Takeaway offer).
European food-ordering firm Just Eat Takeaway.com NV thinks GrubHub is better positioned than rivals to prosper in the United States even though it has been pushed into third place, its operating chief told Reuters. The food delivery business has seen a land grab in the last year as companies vie for the market leading positions they say they need to keep customers coming back to their apps. Netherlands-based Takeaway sealed the acquisition of Britain's Just Eat, a company larger than itself, in January and the combined firm then agreed in June to buy U.S. peer GrubHub for $7.3 billion.
GrubHub (GRUB) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.