GrubHub stock rises on confirmation of Just Eat Takeaway.com deal

GrubHub stock rises on confirmation of Just Eat Takeaway.com deal

GrubHub Inc. shares rose in the extended session Wednesday following the announcement that Just Eat Takeaway.com NV will acquire the food delivery service in an all-stock transaction. GrubHub shares rose 5.2% after hours, following a 2% rise to close the regular session at $59.05. Amsterdam-based Just Eat Takeaway.com said the deal represents its entry to the U.S. market to form the world’s largest online food-delivery service outside of China. For each GrubHub share, stakeholders will American depositary receipts representing 0.671 an ordinary share of Just Eat Takeaway.com, valued at $75.15 a share. Subject to regulatory clearance, the transaction is expected to close in the first quarter of 2021.

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