Just Eat Takeaway sells US unit Grubhub for $650 million, shares jump 20% 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 food-delivery startup Wonder for $650 million, marking the end of a challenging venture in the U.S. market that resulted in over $7 billion in shareholder losses.
Impact on shares and future plans: Following the announcement, Just Eat's shares surged 20%, potentially reversing most of their year-to-date losses, while analysts suggest the company may need to exit other markets like Australia and Canada to align valuations with European peers.
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.
