Uber is in talks to acquire Grubhub, said three people with knowledge of the discussions, aiming to create one giant player in food delivery as more people turn toward those services in the coronavirus pandemic.
Uber recently approached Grubhub with a potential all-stock takeover bid, said two of the people, who spoke on the condition of anonymity because the details were confidential. In response, Grubhub asked for two Uber shares for each of its shares, two of the people said. That would value Grubhub’s stock at more than $60 a share, pegging a deal at around $6.1 billion, or roughly a 25 percent premium to Grubhub’s closing price on Monday.
The talks are still in process and could fall apart, the people said.