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May 12, 2020
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Grubhub (GRUB, $63.84) trading halted, following reports of Uber wanting to acquire the company

Grubhub (GRUB, $63.84) trading halted, following reports of Uber wanting to acquire the company

On Tuesday, trading on Grubhub  shares were halted for a second time on the New York Stock Exchange, following the more than +35% jump in the stock price on reports of Uber  showing interest in the company.

Citing people familiar with the matter and who did not want to be named, Bloomberg reported that Uber approached the online food ordering company with an acquisition offer, and that a deal could be reached this month.

Uber is closing its own food-delivery business, Uber Eats, in seven countries where the service has turned out to be unpopular, it said last week.

No official comment has come from either Grubhub or Uber.

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