Just Eat Takeaway offloads US unit Grubhub for $650 million, shares jump By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 13 2024
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Source: Investing.com
Just Eat Takeaway Sells Grubhub: Just Eat Takeaway has agreed to sell its U.S. unit Grubhub to Wonder for $650 million, significantly less than the $7.3 billion it paid in 2020, marking the end of a challenging U.S. venture and boosting its shares by over 15%.
Future Plans and Market Focus: The company plans to use the proceeds from the sale to invest in stronger markets like Britain and Northern Europe, while analysts suggest it may need to exit other markets to align its valuation with European competitors.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
